A strong bearish setup has emerged after the stock failed to hold its key support levels.
The sharp breakdown below multiple moving averages, backed by strong selling pressure, signals a shift in momentum from buyers to sellers.
📌 Key observations:
🔻 Breakdown below a major support zone
🔻 Price trading below key moving averages
🔻 Fresh bearish momentum with strong downside candles
🔻 MACD confirms increasing downside momentum
In such setups, chasing longs can be risky. It's often better to wait for either:
• A pullback towards resistance with rejection, or
• A fresh base formation before considering new long positions.
In trading, capital preservation is just as important as capital growth.
⚠️ This post is for educational purposes only and should not be considered as investment advice. Always follow proper risk management.
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