1. 8 Months range Breakout with huge volumes and a bullish marubozu candle.
2. Moving averages confirm the uptrend. price previously facing resistance at 20EMA, now taking support at 20 EMA
50/100 EMA cross over seen.
3. Adding levels can be between 115-120.Technical stop loss at 109 which is below the swing low. Target is open. Short term 20 EMA can be used for riding the trend since its acting as support. Also the price is moving in channel forming higher highs and higher lows - parallel trend lines drawn in red.
INVESTMENT THROUGH TECHNICAL ANALYSIS.
2. Moving averages confirm the uptrend. price previously facing resistance at 20EMA, now taking support at 20 EMA
50/100 EMA cross over seen.
3. Adding levels can be between 115-120.Technical stop loss at 109 which is below the swing low. Target is open. Short term 20 EMA can be used for riding the trend since its acting as support. Also the price is moving in channel forming higher highs and higher lows - parallel trend lines drawn in red.
INVESTMENT THROUGH TECHNICAL ANALYSIS.