W7L Friday volume rise confirms heavy absorption at key supportWarpaint London PLCLSE_DLY:W7LStockso_SimpleThis is probably one of the most interesting looking setups from this week. I draw a lot of confidence when I see price banging up against previous support and resistance areas, and in this case Warpaint London has traded off this current price level around 7 times since November last year. To me, buyers are defending this price and keep absorbing stock every time it comes back to test it. Take a look at the price action on Friday, price pushing slightly lower yet volumes increasing. This looks like buyers absorbing more stock as it approaches the key price level around 180p. There is heavily weighted volume on the right hand side of the chart too, which adds further weight to the idea that this level is well supported. Price target: 237p Potential reward: 31%