E.I.D Parry Finally going to Breakout With Volume Confirmation.
As you can see this stock was completely in Uptrend.
But since august market Goes Sideways till now.
First you can High Rejection around 530 Level in Dec 2021 at that time we didn't knew our Resistance and it Nicely took Support on 200DMA.
Second Time we can see Price Rejection from the same price in January 2022 with low or Minimal Volume.
Third time as you can see Price Rejecting from the same price but now it is Consolidating near the Breakout Level with High Volume .
It indicates something happening at that Level , Buyers are Active on that Level now and Consuming all the supply and Ready to Breakout that Level.
If you have any question feel free to ask , i will happily like to answer them.
But since august market Goes Sideways till now.
First you can High Rejection around 530 Level in Dec 2021 at that time we didn't knew our Resistance and it Nicely took Support on 200DMA.
Second Time we can see Price Rejection from the same price in January 2022 with low or Minimal Volume.
Third time as you can see Price Rejecting from the same price but now it is Consolidating near the Breakout Level with High Volume .
It indicates something happening at that Level , Buyers are Active on that Level now and Consuming all the supply and Ready to Breakout that Level.
If you have any question feel free to ask , i will happily like to answer them.