1. Trend Overview
The stock appears to be consolidating after a prolonged Uptrend Current levels (960) suggest the stock is stabilizing near its life time high levels.
2. Key Levels
Support Levels: 900
This zone has acted as a psychological and technical support level, holding the recent consolidation movement.
Resistance Levels: 970
A small round bottom and closing above this level would confirm a shift to a bullish trend.
3. RSI (Relative Strength Index)
The RSI at 69
This indicates a neutral stance with a bullish bias. It shows the stock is neither overbought nor oversold.
4. Volume Analysis
Moderate Volume: The current volume shows a significant increase, which is crucial for confirming a breakout.
Watch for a volume spike near resistance levels (970) to validate a bullish move.
5. Patterns and Insights
Consolidation Phase+ Rounding bottom
The price is trading sideways after the recent uptrend, suggesting accumulation.
Potential Breakout:
A Closing above 970 with strong volume could indicate the continue of a bullish trend.
Conclusion
The stock is currently in a consolidation phase, awaiting a clear breakout. Traders should focus on the 970 resistance and 900 support zones to determine the next directional move.
Disclaimer -
The information provided herein is for educational purposes only.
The stock appears to be consolidating after a prolonged Uptrend Current levels (960) suggest the stock is stabilizing near its life time high levels.
2. Key Levels
Support Levels: 900
This zone has acted as a psychological and technical support level, holding the recent consolidation movement.
Resistance Levels: 970
A small round bottom and closing above this level would confirm a shift to a bullish trend.
3. RSI (Relative Strength Index)
The RSI at 69
This indicates a neutral stance with a bullish bias. It shows the stock is neither overbought nor oversold.
4. Volume Analysis
Moderate Volume: The current volume shows a significant increase, which is crucial for confirming a breakout.
Watch for a volume spike near resistance levels (970) to validate a bullish move.
5. Patterns and Insights
Consolidation Phase+ Rounding bottom
The price is trading sideways after the recent uptrend, suggesting accumulation.
Potential Breakout:
A Closing above 970 with strong volume could indicate the continue of a bullish trend.
Conclusion
The stock is currently in a consolidation phase, awaiting a clear breakout. Traders should focus on the 970 resistance and 900 support zones to determine the next directional move.
Disclaimer -
The information provided herein is for educational purposes only.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.