TradingView
CuriousChartist
Aug 13, 2020 3:26 AM

MASTEK - Multiyear Breakout Long

MASTEKNSE

Description

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.

Comment

Will keep climbing slowly and steadily
More