Mcdowell: Be careful with longs as the stock may test trendline.

The stock has broken a well-established trendline resistance and moved up. But price action is not convincing enough for next 100 points rally.

Current data suggests it will touch the trendline again before making the up-move..

Conclusion: Short term retracement, long term bullish.

Take your trade at your own risk. This study is only for educational purpose.

Comment:

Told ya! 673 from 682. Buy near 660-670 range for 750 now.

Trade active:

Hope you guys must have bought near the low today: 664 :) Enjoy levels now.

Comment:

664 to 710...in 2 trading days..going as calculated..

Comment:

673 to 730..enjoy trading with technical chart and data..