Angleone is destined to stage a comeback!

Aug 29

Technical Analysis (Weekly Timeframe)
● The stock had previously consolidated and established a Rounding Bottom pattern.
● Following the breakout, the price surged, hitting an impressive all-time high of 3,880.
● However, it then began to decline, ultimately dropping to the support level around 2,000.
● A robust rebound from this support, accompanied by significant volume, indicates that the stock is poised for another upward movement.
● The potential targets to watch for are:
➖ 1st Target - 3,400 level
➖ 2nd Target - 3,880 level.

Technical Analysis (Daily Timeframe)

● The daily chart reveals that following the breakout from the Falling Wedge pattern, the price is currently in a consolidation phase, poised for a significant upward movement.
● The trading volume has surged notably in recent days, signalling that big market participants are showing keen interest.

Technical Indicators (Daily Timeframe)

RSI

● Current RSI of this stock is 61.37, which indicates the strength of buyers.

MACD

● MACD line has crossed over the signal line from the below, indicates a robust bullish momentum is in play.

ADX & DI

● ADX value surpassing 20 with +DI positioned above the -DI, indicates the strength of the trend.