CHART ANALYSIS - $NETWEB

The most important observation on the price chart of NETWEB is that the stock continues to maintain a strong long-term bullish structure despite the recent corrective phase. The stock has once again taken support near its short-term moving average cluster and is showing signs of stability after profit booking from higher levels. Importantly, prices are still trading well above the 200 Day Moving Average, which keeps the broader trend positive. The recent rebound from the 3850-3900 support zone indicates that buying interest is emerging at lower levels. The stock is also trading near the middle band of Bollinger Bands after cooling off from overbought territory, suggesting that volatility has eased and price may be preparing for the next directional move. On the momentum front, RSI is hovering around the neutral 50 zone and appears to be stabilizing after correction. This generally indicates that downside momentum is weakening and a fresh upside move may emerge if buying strength improves further. Immediate resistance for the stock is placed near 4070-4100 levels. A sustained move above this zone can open the doors for higher targets towards 4300 and then 4500 levels again. On the downside, 3850 remains a crucial support area, and any close below this level may weaken the short-term structure. Overall, the long-term structure of NETWEB remains constructive with the formation of higher highs and higher lows still intact. Traders may continue to adopt a “buy on dips” approach as long as the stock sustains above the key support zone of 3850 on a closing basis. $NETWEB