Reasons to go Long :
1. On a if we draw the tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. A chart pattern, (W pattern) is formed around 0.5 Fibonacci level.
3. A pattern ( ), marked with the orange color is formed around 0.5 Fibonacci level.
4. Also there is a strong (marked with purple color), from which the stock is taking support and moving up.
5. The stock can go up to the trendline where it may face resistance.