white line is acting as strong resistance ever since the stock started the descent on 17.10.2017........stock tried first time to break this line on 20.3.2019 but could not succeed...........made a second attempt on 2.12.2019...could not succeed.......made a third attempt on 7.09.2020...could not succeed.....yesterday it again touched this line and closed a shade below.....
I am saying that this time it is likely to succeed in breaking this line, which if happens will be a major breakout coming after 3 years......and will propel the stock to great heights..
why do I think it will break this time?...here is why?
Volumes were high even on previous attempts........but this time it is different....
on previous occasions, the OBV(On balance volume) stayed below the yellow resistance line.......but this time, it has broken out...
Also, on previous attempts, the RSI could not break 70.....this time it has broken and closed above 70....
this is a super bullish signal according to me....
On Monday if the stock trades above Friday's high, we can buy the stock for handsome gains....
I am saying that this time it is likely to succeed in breaking this line, which if happens will be a major breakout coming after 3 years......and will propel the stock to great heights..
why do I think it will break this time?...here is why?
Volumes were high even on previous attempts........but this time it is different....
on previous occasions, the OBV(On balance volume) stayed below the yellow resistance line.......but this time, it has broken out...
Also, on previous attempts, the RSI could not break 70.....this time it has broken and closed above 70....
this is a super bullish signal according to me....
On Monday if the stock trades above Friday's high, we can buy the stock for handsome gains....