Some resistance around the dashed trend line. 200 EMA as support near the bottom trend line & resistance on the upside.
Hence, the stock is moving in a range.
Possibility of a breakout/breakdown.
If breaks out then go long with stop loss at the 200 EMA.
*If breaks down then go short with SL at the black trend line.
Target in both cases should be trailing & not precise.
Stay Safe & Trade Safely.
Trade active
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Chart Update - Stock gave a breakout exactly from our resistance with good volumes. Now the stock is around another resistance and stayed in the zone with a small pullback. As it was mentioned that the targets, in this case, should be trailing & not precise so the SL can be moved to the cost at 155-156. Why move our SL to cost? If the stock crosses that the idea & the trade will be eliminated. ADX is rising & crossing 162-163 is important for the stock to stretch itself on the upside.