Price reached the upper trendline of the descending channel.
But I do realise the possibility for a higher timeframe trend reversal and the price to breakout from the descending channel and rally upwards. There is a potential for a move of about 49% if the next key inflection level is targeted.
But considering the overall valuation of the US market, I do expect a sell-off in the near term in the broader market. This will have its effect on almost all stocks and hence I decided to take some chips off the table as soon as they reach a potential inflection level.
Hence I'm booking profit in the scrip as of now. Will consider a re-entry if price crashes and comes back to the initial entry levels.
Previous posts regarding the same scrip is attached underneath this post. Do check them out too.