IBULHSGFIN above 1365 with a short term holding target of 1430

The stock tested highs at 1425 in the early part of 2018 and since then has been under corrective consolidation. The stock formed a base around its multi month pattern support area of 1190-1220 which falls within close vicinity of the 200-DMA . After pulling back, stock attempted a breakout while closing above its upper Bollinger band . However, it saw a temporary pullback inside the band but looks to move up again. Daily MACD is in continuing buy mode. Weekly MACD has shown a fresh positive crossover and it is now bullish while trading above its signal line. Weekly Stochastic remains in continuing buy mode.

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