After a prolonged corrective phase, Crompton has reached a major demand zone on the weekly timeframe, where price action is showing early signs of accumulation.
The latest candle has formed a pronounced lower shadow, indicating absorption of selling pressure and renewed buying interest near structural support.
A sustained close above immediate resistance, supported by increasing volume, would confirm a bullish reversal structure and potentially mark the beginning of a new primary uptrend.
Traders should watch for follow-through momentum and volume confirmation in the coming sessions — a breakout here could transition the stock from accumulation to markup phase.
The latest candle has formed a pronounced lower shadow, indicating absorption of selling pressure and renewed buying interest near structural support.
A sustained close above immediate resistance, supported by increasing volume, would confirm a bullish reversal structure and potentially mark the beginning of a new primary uptrend.
Traders should watch for follow-through momentum and volume confirmation in the coming sessions — a breakout here could transition the stock from accumulation to markup phase.
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