Crescent Steel & Allied Products (CSAP) is currently testing the upper boundary of a long-term accumulation range, but a confirmed breakout is still pending. Price has reached the range high near 135, where sellers have previously shown strong presence.
This move appears to be a breakout attempt, not a confirmation yet. A daily close with strong volume above the range is required to validate bullish continuation. Until then, there is a risk of rejection or consolidation near resistance.
This move appears to be a breakout attempt, not a confirmation yet. A daily close with strong volume above the range is required to validate bullish continuation. Until then, there is a risk of rejection or consolidation near resistance.
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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.