The chart highlights a support zone around 3239, reinforced by the 200 EMA. There is a resistance level around 3472.40, which the stock needs to break through for further upward momentum. The volume appears to be consolidating, which can be a precursor to a breakout. Increased volume during a breakout above resistance would further validate the bullish sentiment. The RSI is currently at 47.07, indicating it is in the neutral zone, there is a noted trend reversal from the oversold zone, which is a bullish signal. However, the RSI is yet to enter the overbought territory, suggesting that there is still room for upward movement.
The stock to break above the resistance level of 3472.40 with increased volume. This would confirm a continued upward trend. If the resistance is broken, the next target would be around 3860.
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
The stock to break above the resistance level of 3472.40 with increased volume. This would confirm a continued upward trend. If the resistance is broken, the next target would be around 3860.
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.