Dredging Corp nearing support levels
Dredging Corp nearing support levels which has been only moving in the down trend since few weeks.
Can see the support levels of around 935 which is around 35% of the fall from high.
Another support from the downward channel is around the levels of 40% of around 890 .
Expecting it to shoot up a bit after it reaches the support levels. This does not confirm the real trend though. Just need to wait for chart pattern on the daily time frames to confirm the pattern with doji kind of pattern for it to shoot up around the levels of 1100. The stock has given abrupt returns in the past so not enough conviction to fall more after those levels.
No recommendations, just my view based on chart pattern.
Can see the support levels of around 935 which is around 35% of the fall from high.
Another support from the downward channel is around the levels of 40% of around 890 .
Expecting it to shoot up a bit after it reaches the support levels. This does not confirm the real trend though. Just need to wait for chart pattern on the daily time frames to confirm the pattern with doji kind of pattern for it to shoot up around the levels of 1100. The stock has given abrupt returns in the past so not enough conviction to fall more after those levels.
No recommendations, just my view based on chart pattern.
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