IOLCPAfter a strong bullish rally following a long-term base breakout, price faced rejection near its all-time high, where historical supply emerged and triggered a healthy pullback. Notably, the decline has occurred without aggressive selling volume, suggesting profit booking rather than broad-based distribution.
The focus now shifts to the identified Daily Demand Zone (DDZ), followed by the Weekly Demand Zone (WDZ) if the correction extends. My preferred approach is to wait for price to pause, stabilize, and confirm a bullish reaction from either demand zone before considering any long opportunity.
A sustained recovery from these demand zones could pave the way for another attempt at the all-time high and potentially a new price discovery phase. The broader Pharma sector is also showing supportive price action, which adds strength to the overall bullish outlook.
Trade Plan:
→ ✅ Consider long opportunities only after bullish confirmation from DDZ or WDZ.
→ ✅ Patience over prediction — let price confirm strength first.
→ ❌ This bullish view becomes invalid if price records a daily close below the Weekly Demand Zone.
This analysis is shared for educational purposes only and should not be considered investment advice. Please conduct your own research and manage risk appropriately.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.