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Support_level

GBPPLN - A Potential Buying Opportunity towards 5.03500OANDA:GBPPLN is in a key support zone, which has multiple times seen strong bullish reversals and notable buyer interest. The recent bearish pressure has brought the price into this critical area, presenting a potential buying opportunity. I expect a move toward 5.03500. However, if this support zone is breached, the bullish outlook would be invalidated, potentially resulting in additional downside movement. -Target Price: 5.03500 -Support Zone Breach: Invalidates bullish outlook, potential decline -Risk Management: Crucial for position sizing and protection
Long
by TrendDiva
2
Downtrends Finding Support for the Next Uptrend: AMAT ExampleNASDAQ:AMAT was over-speculated in 2023 and then had a top formation that trended down starting in July 2024. This is still considered technically to be an intermediate-term trend correction. The selling started at an all-time high. HFTs are constantly in the mix, selling down. However, the shift of sentiment has started and there are gaps up recently. It is NOT in a buyback mode but the stock is finding support from the 2021 highs, which is strong support. This should provide the basis for the beginning of a bottom formation.
NASDAQ:AMAT
by MarthaStokesCMT-TechniTrader
1
ALLCARGO Logistics are Stablishing and Sustaining in PerformanceNSE:ALLCARGO ................................................................................................................................................................................................................................................................................................................................................... KEY BUSSINESS HIGHLIGHTS Global events coupled with high demand across trade lanes during the second quarter of 2024 (calendar year) has led toimproved volumes and increased freight rates. Demand is expected to continue through the peak season till end of theyear. LCL volume for the quarter ended June’24 stood at 2.25 million CBM, similar on YoY basis and representing a QoQ growth of6%. FCL volume for the quarter stood at 156K TEUs, similar to last quarter and up 9% on a YoY basis. ECU Worldwide onboarded a new leadership team in Argentina, Uruguay and Paraguay as part of growth initiatives in LatinAmerica. Contract Logistics business has reported a revenue growth of 13% on a QoQ basis and 22% on a YoY basis on the back ofincreased wallet share from existing clients. Express Business: Operating cost continues to get optimized to bring about future growth in EBITDA. For Q1FY25 EBITDAstood at Rs. 20 crores, up 11% YoY and 33% on QoQ basis ................................................................................................................................................................................................................................................................................................................................................... Supply chain market is estimated to be at ₹63,000 crores. • ASCPL is a leading pan india 3PL player with an expansive network • Market leadership in chemical warehousing and dominance in western India • Building strengths in auto & engineering and ecommerce ...................................................................................................................................................................................................................................................................................................................................................
NSE:ALLCARGOLong
by iism-ExpertTrading
Support and Resistance levelsSupport and resistance levels, the bedrock of technical analysis, are fundamental elements. They serve as critical points that delineate potential price movements and are pivotal in decision-making processes for traders and investors alike The basis: There are several fundamental concepts in trading that remain the same over a long period of time. Among them, the concepts of support and resistance levels stand out. When used correctly, support and resistance levels improve trading efficiency in financial markets. Today we will delve deeper into these concepts. Price behavior: The fundamental principle of price behavior lies in the concept of supply and demand, governing the existence and operation of any market. When demand outweighs supply, it prompts an upward push in prices, while in reverse circumstances, a decrease is observed. By identifying levels of supply and demand, traders significantly enhance their success rate. A support level indicates a price range where strong buying positions are concentrated, typically defined by two minimum price points. A resistance level, conversely, denotes a price range around which strong selling positions are clustered, often marked by two maximum price points. It's important to note that support and resistance levels should not be viewed as precise lines. Prices may not necessarily adhere to these levels point by point; often, they may not even touch the level directly, sometimes piercing through it. This variability is normal, so these levels should be perceived more as zones of support and resistance. The width of these zones can vary, with the magnitude of dispersion dependent on the timeframe in which trading occurs. The higher the timeframe, the potentially broader the range of support and resistance levels. Once again for strengthening: Support and resistance levels represent specific price ranges on a chart (often represented by rectangles in my analysis) where the direction of price movement has historically changed. These ranges attract traders' attention because they provide clear points for setting stop losses and entering trades. In addition, these levels usually attract large buyers or sellers whose limit orders contribute to market dynamics. Essentially, the level denotes the price area in the market where traders perceive the price to be either overpriced or underpriced, depending on the prevailing market conditions. Therefore, it is extremely important to closely monitor key levels where the role of support and resistance has changed or where significant price reversals have occurred. Blending levels signify pivotal points on a price chart where price action can prompt a reversal in the opposite direction. In the presence of a robust trend, price movements may penetrate through these supply and demand levels, leading to potential shifts in direction. Such occurrences typically coincide with heightened transaction volumes. The interplay of price adjustments, heightened market activity, and trading volumes collectively influence market direction. When resistance is breached and the price retraces to its previous level, there's a likelihood that bulls will once again push it upwards. Conversely, if the price retraces to the breached level after breaking through support, bears are likely to actively drive it downwards. Support and resistance levels can be identified as areas in the market where traders are more inclined to buy or sell, depending on current market conditions. This creates a zone of collision between buyers and sellers, often prompting the market to change its direction. Retest: A retest of a level refers to a brief return of the price to the breached support or resistance line for testing purposes. Following the retest, the price typically continues its movement in the direction of the breakout. On higher time frames, support and resistance levels become more powerful: It is important to observe the price action around levels: If the price swiftly reverses from a level into the opposite trend, it indicates significant importance of that level. If the price tests a specific area multiple times with minor retracements, it's likely that the level will eventually be breached. Swing zones refer to areas where the price retraces to the previous pullback in either a downtrend or uptrend. In less robust trends, the price tends to return to the boundary of the previous correction before continuing its movement. Of course, support and resistance are dynamic concepts that require constant attention and analysis as their meaning changes depending on prevailing market conditions. Moreover, it is critical to consider multiple confirmations such as volume analysis and breakouts to confirm the strength of these levels. Thank you for your attention!
Education
by truepersonal
26
Paramount (PARA) Flirting with Historical Support, Time to Buy?Hi Guys. As usual always on the lookout for Macro trend setups, signs and opportunities. PARA seems to be in a position of low risk trade setup. We have made it to a Historical Support level, where interactions here normally leads to bounces upward. Please note however that previous history does not mean it is 100% probable that it will repeat. HOwever, being in a downtrend for some time now. It is likely that there maybe DEMAND in this area. Its important to watch for signs of confirmation of Support. This weeks candle may show signs. It is a Hammer candle printing at the bottom of a downtrend since January. Lower wick indicates buy pressure or demand. Notice ABOVE we have a resistance trendline. Note if we bounce from here, that will be our area to watch. This resistance trendline has been dragging us down since April 2022. We could also be attempting to form a double bottom. Recently there is also an uptick in VOLUME, which can indicate support of the demand currently seen at this support lvl. Ive added 2 indicators. MACD shows that we have not reached ABOVE the 0 lvl in quite sometime. Hinting to the idea that eventually we will. Notice also the presence of Bullish Divergence with MACD and price action. Watch for the change in color of the histobars to light red. This will suppport the idea of waning bearish momentum. The presence of a bullish cross is also vital to watch for. Now notice RSI. Our current RSI as indicated by orange circle, shows flattening of the RSI. This shows buying is stalling the sell off. However, notice the rectangles highlighting previous flattening of RSI. There is a possibility of RSI continuing downward. An important sign for the RSI in my opinion would be if RSI can move above the resistance trendline. This thinking ahead, can coincide with breaking the Major resistance in price action. Regardless of what happens, right now we are in a critical area and pushes for observation. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on PARA in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:PARALong
by SafofAllTrades
1
At Support - JINDALSTEL📊 Script: JINDALSTEL 📊 Sector: Steel 📊 Industry: Steel - Sponge Iron Key highlights: 💡⚡ 📈 Script is trading at its support level which is near 765. 📈 Script may take support at this level and bounce back from here. 📈 One can go for Swing Trade or a Positional Trade. ⏱️ C.M.P 📑💰- 808 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:JINDALSTELLong
by radha_23
Alikze »» SKL | Pullback to broken structureIn the daily time, after the floor in the range of 0.019, it has entered a motivational upward phase, which is facing a correction with the failure of the dynamic trigger and the specified supply area, which is supported in the green box area where a break has occurred. It will grow up to the next supply area. Otherwise, it can continue up to the range of the dynamic correction trigger, which will make it difficult to continue the upward path. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️ »»»«««»»»«««»»»«««
Long
by alikze
WHIRLPOOL: SUPPORT LEVELSNSE:WHIRLPOOL is currently trading at its 2018 low levels, indicating a significant downtrend in the stock's price over the past few years. However, the recent formation of a hammer candlestick pattern suggests a potential reversal in the downward trend. Yesterday's hammer candlestick, followed by today's confirmation, indicates that buyers have stepped in to support the stock at these levels, potentially signaling a shift in sentiment. The hammer candlestick pattern is characterized by a small body with a long lower wick, indicating that despite a period of selling pressure, buyers were able to push the price back up, typically closing near or above the open. This pattern is considered bullish when it appears after a downtrend, as it suggests that sellers may have exhausted their momentum and that buyers are starting to gain control.
NSE:WHIRLPOOLLong
by VanshikaUdeshi