This is a MONTHLY CHART - so patience is the key. Don't get disappointed in daily pullbacks.
From the year 2000, there has been a resistance around 540.
In 2018 there was an attempt to breakout but the RSI was already overbought and there was a bearish divergence due to which the stock didn't get the required steam to fly.
However from April 2020, we have seen a one way strong rally with a successful breakout. So a monthly corrective candle is expected.
Keep a close watch. Multiyear breakouts tend to be explosive once they start their rally.
From the year 2000, there has been a resistance around 540.
In 2018 there was an attempt to breakout but the RSI was already overbought and there was a bearish divergence due to which the stock didn't get the required steam to fly.
However from April 2020, we have seen a one way strong rally with a successful breakout. So a monthly corrective candle is expected.
Keep a close watch. Multiyear breakouts tend to be explosive once they start their rally.
Comment:
Will keep climbing slowly and steadily
*DISCLAIMER*
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
