DREDGECORP had a nice breakout today with huge volume thus breaking a Weekly/Monthly trendline. If the trend were to continue tomorrow, we should see 525/550 on this. 550-580 is a Supply Zone, so I expect some stop over or pullback. Above this area would be 600/650 targets
On the downside, I see the first support level @ 575. We do have a demand zone below 550-540 if 575 is lost where I think the price should hold. This will also be a breakout trendline test if we were to come down
In short, trend continuation should give us 525/550/580
on the down side, 475 first and below that we got 450
On the downside, I see the first support level @ 575. We do have a demand zone below 550-540 if 575 is lost where I think the price should hold. This will also be a breakout trendline test if we were to come down
In short, trend continuation should give us 525/550/580
on the down side, 475 first and below that we got 450
Note
rejection at supply zone so farNote
Bounced from the Demand Zone
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If you like my work and would like to appreciate, then give me a follow me on X (formerly Twitter)
x.com/adkis7
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.