After along base of almost two and half years the stock breakout with good volumes.
Retested the previous resistance (413-469) which acted as a support.
Formed abase of 16 weeks of 25.5% range and it breakout of it too with good volumes.
Volumes were dried during the base formation and stock is now above all its key moving averages.
Now 530 shall act an initial support whereas 413-469 will still remain the strong support in the future until it breaks.
650 - 800 - 1239 are the levels it can test over the long term.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
Retested the previous resistance (413-469) which acted as a support.
Formed abase of 16 weeks of 25.5% range and it breakout of it too with good volumes.
Volumes were dried during the base formation and stock is now above all its key moving averages.
Now 530 shall act an initial support whereas 413-469 will still remain the strong support in the future until it breaks.
650 - 800 - 1239 are the levels it can test over the long term.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.