Mar. 8 at 2:15 AM
$WIT just printed the biggest buy volume weekly candle in years — right at multi-year trendline support and the
$2.19–2.20 green zone.
That's not random. That's either capitulation or someone loading the boat.
RSI is at multi-year lows. Descending channel from 2022's
$4.54 peak still intact, but this volume at this level is worth respecting.
Bull case: volume = exhaustion bottom. Reclaim
$2.50 →
$3.00 is the first real target. Break
$3.00 and the channel is cooked.
Bear case: volume was distribution, not accumulation. Lose
$2.19 and there's not much structure below until ~
$1.90.
Weekly close matters here. Watching
$2.50 as the first confirmation level.
#WIT #Wipro #hovdid
