Reasons to go Long :
1. If we draw from swing low (Point A) to swing high (Point B) on a 1-day chart we see the stock took support around 0.5 Fibonacci level and moved up.
2. On 0.5 Fibonacci level the stock has made a pattern ( Harami) and another pattern ( ) around 0.5 Fibonacci level.
3. Also we can see that the stock is forming (W pattern) which is a chart pattern.
4. In addition to this there is a strong (marked with a purple color ) around 0.5 Fibonacci level from which the stock is moving up.
5. Also there is a high possibility that the stock will give a trendline breakout.