$BARBEQUE - Weekly Chart Analysis

Firstly this is a day prior to weekly close. The stock was in my IPO scan watchlist and i have been tracking this since a few weeks now. As you can see from the chart that the stock is in a down trend. While in a downtrend the volumes went dry and recently from last month i can see a stock forming a base ands volumes are showing up. I have already taken a pilot position in the month of may where i saw first volume spikes started showing up with small risk. Since then its in my watchlist and under close look. The only reason for sharing it is a volume and price contraction and price consolidating near its resistance.
Initially the price was not able to sustain above 670 levels nd this week closing is tomorrow that's 21st July 2023. Let's see where the price is closing tomorrow.

722 levels will be the first resistance it will face and then the trendline. Once that is broken it shall confirm the end of a down trend and then the stock would be in either sideways or an uptrend.
So ideally it's a candidate to be bought only above 722 levels if closed and sustains above it. But this is a low cheat entry point if any one would like to consider it.

NOTE: This is just an analysis. I am not recommending any buy / sell signals. If you are considering to trade this counter than trade at your own risk and due diligence.

Trade closed manually