Zomato - Bullish reversal

١٢ يونيو ٢٠٢٢

ZOMATO had been trading in a downtrend for months and now seems like it found a bottom. It made a falling wedge structure in a downtrend which indicates that selling pressure is getting weaker and buyers are stepping in. It broke out of falling wedge resistance and now trying to take a support at the breakout level. If it succeeds in breaking 75 level, We could see it go up to previous supply level (115-125). Range between 115 and 125 is a supply zone as a huge selling volume came in between these two prices and price fell down sharply.