200 WMA plays a significant role in deciding the long term direction of a stock. The present case is a recent one and a bright one also. We see how price moved sharply after crossing 200 WMA. Today price has moved above the Double Top resistance. So this is a breakout on weekly as well as daily charts. I covered this stock when bullish Flag was formed on daily chart.
One more thing: on daily chart a Negative Divergence has been completely ignored. This speaks about strong bullish undertone.
One more thing: on daily chart a Negative Divergence has been completely ignored. This speaks about strong bullish undertone.