Ascending Channel (Main Structure)
• The stock is trading within an upward-sloping channel, making higher highs and higher lows.
• The lower trendline acts as dynamic support, and the upper trendline as resistance.
Rectangle / Box Range (Recent Phase)
• Price consolidated between 1,220–1,310 for several sessions — forming a rectangle pattern.
• This consolidation occurred within the channel, suggesting a pause before continuation.
Breakout Confirmation
• Price has just closed above the upper rectangle boundary with strong volume.
• EMA crossover is supportive — price above both short and medium EMAs.
• RSI > 70 indicates strong momentum, confirming the breakout.
Consider buying above the 1325 level, with the targets of 1355, 1370, and 1395
• The stock is trading within an upward-sloping channel, making higher highs and higher lows.
• The lower trendline acts as dynamic support, and the upper trendline as resistance.
Rectangle / Box Range (Recent Phase)
• Price consolidated between 1,220–1,310 for several sessions — forming a rectangle pattern.
• This consolidation occurred within the channel, suggesting a pause before continuation.
Breakout Confirmation
• Price has just closed above the upper rectangle boundary with strong volume.
• EMA crossover is supportive — price above both short and medium EMAs.
• RSI > 70 indicates strong momentum, confirming the breakout.
Consider buying above the 1325 level, with the targets of 1355, 1370, and 1395
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.