As shown in the chart, the stock is currently trading between well-defined support and resistance levels on the weekly timeframe. The long-term support zone aligns with the historical low established during the last major market crisis, which has been retested recently. This confluence suggests a strong structural base unless macro conditions deteriorate significantly.
Given that the price has held this crisis-era support, the probability of a sustained breakdown remains limited at this point. However, if this level is breached decisively, it would indicate a major shift in the long-term trend — potentially transitioning from a cyclical correction into a secular downtrend. In such a case, the technical landscape would deteriorate into what could be described as a prolonged bearish phase or even a structural bear market.
Until then, the current price action can be interpreted as a high-stakes accumulation or bottoming process, with key resistance levels to watch for any signs of reversal confirmation.
Given that the price has held this crisis-era support, the probability of a sustained breakdown remains limited at this point. However, if this level is breached decisively, it would indicate a major shift in the long-term trend — potentially transitioning from a cyclical correction into a secular downtrend. In such a case, the technical landscape would deteriorate into what could be described as a prolonged bearish phase or even a structural bear market.
Until then, the current price action can be interpreted as a high-stakes accumulation or bottoming process, with key resistance levels to watch for any signs of reversal confirmation.
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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.