The chart displays a clear downtrend from a high of approximately LKR 16.8 in late 2024, followed by a significant decline. A potential reversal or base-forming phase appears to have begun around the May 2025 low (around LKR 13.0).
Current Market Structure
The stock has been trading in a sideways consolidation range since July 2025, primarily between the Daily Support area (approx. LKR 14.6 to LKR 14.8) and a local high around LKR 16.0.
Bearish Signal: The most recent weekly candlestick (ending early November 2025) is a large bearish candle that has decisively broken below the Daily Support zone and a previously respected rising dashed trendline. The closing price of LKR 14.4 is below these key levels, indicating a shift in short-term momentum from neutral to bearish. This breakdown suggests that the sellers have regained control.
Projection
The decisive breakdown below the LKR 14.6 - LKR 14.8 support area points to a high probability of a further decline to the next major support zone.
Initial Target (Weekly Support): The immediate projection is a move down towards the Weekly Support zone, which is clearly defined between approximately LKR 13.4 and LKR 13.7. This zone was a previous level of strong support and resistance.
Continuation: If the price fails to hold the Weekly Support zone, the next potential downside target would be the April/May 2025 low around LKR 13.0.
In summary, the chart shows a breakdown from a consolidation pattern, leading to a bearish short-term projection targeting the Weekly Support between LKR 13.4 and LKR 13.7.
Current Market Structure
The stock has been trading in a sideways consolidation range since July 2025, primarily between the Daily Support area (approx. LKR 14.6 to LKR 14.8) and a local high around LKR 16.0.
Bearish Signal: The most recent weekly candlestick (ending early November 2025) is a large bearish candle that has decisively broken below the Daily Support zone and a previously respected rising dashed trendline. The closing price of LKR 14.4 is below these key levels, indicating a shift in short-term momentum from neutral to bearish. This breakdown suggests that the sellers have regained control.
Projection
The decisive breakdown below the LKR 14.6 - LKR 14.8 support area points to a high probability of a further decline to the next major support zone.
Initial Target (Weekly Support): The immediate projection is a move down towards the Weekly Support zone, which is clearly defined between approximately LKR 13.4 and LKR 13.7. This zone was a previous level of strong support and resistance.
Continuation: If the price fails to hold the Weekly Support zone, the next potential downside target would be the April/May 2025 low around LKR 13.0.
In summary, the chart shows a breakdown from a consolidation pattern, leading to a bearish short-term projection targeting the Weekly Support between LKR 13.4 and LKR 13.7.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.