$INDA
Added 2025-03-07 12:37:16 +0000 UTCI shared last week that $INDA had lost its rising wedge support line and now we are seeing a retest of this wedge line from below at $50, this is important because if there is a rejection at this line from below then the correction can be confirmed and $INDA will start moving down to the red fib support levels.
This is also what we would be watching for on the $SPY chart if the 200 Day MA is lost too.
I have no issue seeing a price overshoot a support level but its the rejection under the line which is the most important observation.
If the price can recapture the level and flip it back to support then this is a very strong bullish indicator and a move higher will likely follow next, which is relevant here too.
