Prestige Group is currently moving inside a clear falling channel, where price is making lower highs and lower lows in a controlled manner.
This shows that the stock is going through a correction phase rather than panic selling.
Each time price reaches the upper trendline, sellers step in and push it lower.
And each time price reaches the lower trendline, buyers try to support it.
This back-and-forth movement is how markets cool down after a strong move.
Recently, price touched the lower channel support again and showed a bounce, which means buyers are still active at this level.
As long as price stays inside this channel, the move remains a correction within structure.
A strong move usually starts when price either breaks above the channel or forms a strong base near support.
This chart clearly shows how trendlines guide price without any indicators.
This shows that the stock is going through a correction phase rather than panic selling.
Each time price reaches the upper trendline, sellers step in and push it lower.
And each time price reaches the lower trendline, buyers try to support it.
This back-and-forth movement is how markets cool down after a strong move.
Recently, price touched the lower channel support again and showed a bounce, which means buyers are still active at this level.
As long as price stays inside this channel, the move remains a correction within structure.
A strong move usually starts when price either breaks above the channel or forms a strong base near support.
This chart clearly shows how trendlines guide price without any indicators.
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SiripiVenu
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.