Declining Channel: The share has been trading within a well-defined declining channel, as highlighted by the two parallel red lines on the chart. This pattern typically suggests a consistent downward trend.
Moving Averages: Two moving averages are depicted on the chart - the "200-day" and "200-week." The share is currently trading below both these moving averages, further indicating a bearish sentiment.
Fibonacci Retracements: The share price has previously shown reactions near the 23.6% and 38.2% levels, indicating these could be areas of interest.
Target & Stop Levels: There's a bearish sentiment, with a target set at 8600 (a potential decline of 8.6% from current levels). On the contrary, the stop is placed at 10000, indicating a potential risk of 5.9% if the share moves against the anticipated direction.
Increase Exposure Level: The annotation "increase exposure around 9200" indicates a potential area where one might consider adding to a short position or potentially looking for a bounce.
Recent Price Action: It's worth noting that recent candles show strong red bars, suggesting a continued selling interest.
Moving Averages: Two moving averages are depicted on the chart - the "200-day" and "200-week." The share is currently trading below both these moving averages, further indicating a bearish sentiment.
Fibonacci Retracements: The share price has previously shown reactions near the 23.6% and 38.2% levels, indicating these could be areas of interest.
Target & Stop Levels: There's a bearish sentiment, with a target set at 8600 (a potential decline of 8.6% from current levels). On the contrary, the stop is placed at 10000, indicating a potential risk of 5.9% if the share moves against the anticipated direction.
Increase Exposure Level: The annotation "increase exposure around 9200" indicates a potential area where one might consider adding to a short position or potentially looking for a bounce.
Recent Price Action: It's worth noting that recent candles show strong red bars, suggesting a continued selling interest.