Topic Statement:
AngelOne remains under pressure after a sharp profit decline, trading within a down-trending channel as it struggles to regain bullish momentum.
Key Points:
- The stock is moving in a clearly marked down-trending channel, allowing for structured channel-based trading
- It received strong support at the 50% Fibonacci retracement level around 2000, helping limit further downside
- Price generally faces resistance above the 100-day EMA, which continues to cap any rebound attempts
- A breakout above the channel could signal a trend reversal, but the poor quarterly results may delay any significant upside move
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Disclaimer
This article should not be interpreted as investment advice. For any investment decisions, consult a reputable financial advisor. The author and publisher are not responsible for any losses incurred by investors or traders based on the information provided.