This Stock Has Broke A Long-Term Resistance with EMA Support
Updated
✅The stock has been trading within a rising channel, encountering a 4.6-year-old strong resistance. Recently, the price has broken above this resistance, showing a potential bullish continuation.
✅ Immediate support around ₹180, aligning with the lower trendline. Stronger support near the 50 EMA at ₹154 providing a robust base for potential upward movement.
✅ Noticeable increase in volume with the breakout above the strong resistance, signaling strong buying interest and supporting the bullish outlook.
✅ RSI is currently at 67 trending upwards and indicating increasing bullish momentum without being overbought. The MACD histogram shows rising bullish momentum, with the MACD line close to crossing above the signal line, suggesting a buy signal.
✅ Immediate support around ₹180, aligning with the lower trendline. Stronger support near the 50 EMA at ₹154 providing a robust base for potential upward movement.
✅ Noticeable increase in volume with the breakout above the strong resistance, signaling strong buying interest and supporting the bullish outlook.
✅ RSI is currently at 67 trending upwards and indicating increasing bullish momentum without being overbought. The MACD histogram shows rising bullish momentum, with the MACD line close to crossing above the signal line, suggesting a buy signal.
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A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
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