The stock has been in consolidation phase since 2015 and could not yield any significant returns however there has been a serious increase in volumes and momentum lately
Also there has been a turnaround in the fundamentals , the company has turned profitable in recent quarters .
There are 2 major patterns which are being visible in the chart
1) Rounding bottom which has been in formation since 2015 and has given a breakout recently which is a great sign also the target comes out to be 220 within few months
2) Cup and handle which has been formed freshly and the resistance for 166 has been breached recently also the target for same comes out to be 220
Also there has been a turnaround in the fundamentals , the company has turned profitable in recent quarters .
There are 2 major patterns which are being visible in the chart
1) Rounding bottom which has been in formation since 2015 and has given a breakout recently which is a great sign also the target comes out to be 220 within few months
2) Cup and handle which has been formed freshly and the resistance for 166 has been breached recently also the target for same comes out to be 220