ALBERTDAVD - Weekly Chart Analysis, CMP-1097
After forming a probable volume contraction and 2 bases formed over 4 years the stocks now showing a tennis ball pattern forming HH-HL.
It also broke the confluence of 1. The down trendline & 2. The Supply zone (617-662) with good volumes. We waited for a 1st base to form just for confirmation which was 14 Weeks and 17% range.
The stock is sailing above all key moving averages.
Now 860-880 shall act as a support and a weekly close with follow up below these levels if seen make our view invalid.
Over the long term 1257 - 1733 levels can be tested if it continues in an up trend.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
It also broke the confluence of 1. The down trendline & 2. The Supply zone (617-662) with good volumes. We waited for a 1st base to form just for confirmation which was 14 Weeks and 17% range.
The stock is sailing above all key moving averages.
Now 860-880 shall act as a support and a weekly close with follow up below these levels if seen make our view invalid.
Over the long term 1257 - 1733 levels can be tested if it continues in an up trend.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
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