DREDGECORP - Breaking Monthly/Weekly Trendline
DREDGECORP had a nice breakout today with huge volume thus breaking a Weekly/Monthly trendline. If the trend were to continue tomorrow, we should see 525/550 on this. 550-580 is a Supply Zone, so I expect some stop over or pullback. Above this area would be 600/650 targets
On the downside, I see the first support level @ 575. We do have a demand zone below 550-540 if 575 is lost where I think the price should hold. This will also be a breakout trendline test if we were to come down
In short, trend continuation should give us 525/550/580
on the down side, 475 first and below that we got 450
On the downside, I see the first support level @ 575. We do have a demand zone below 550-540 if 575 is lost where I think the price should hold. This will also be a breakout trendline test if we were to come down
In short, trend continuation should give us 525/550/580
on the down side, 475 first and below that we got 450
Comment:
rejection at supply zone so far
Comment:
Bounced from the Demand Zone