Double bottom with retest of resistance level
Stock has made a double bottom on daily chart, with retesting its previous resistance. Previously stock faced resistance at around 118-120 levels and corrected nearly 25%. Later stock gave breakout and made a high of 146. Then, stock again corrected nearly 20% from its high and now has retested and taken support from its previous resistance levels of 118-120. One can consider long, with SL 115 on weekly CB for the target of 137/150+, with more than 1:2 RR.
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.