The analysis is done on Weekly TF hence price may take few weeks to few months in order to reach the targets. Trade setup is explained in image itself.
After breakout, a major resistance becomes major support. Here we can see price taking support from that level many times. But not just that, it is also showing Bullish Divergence on RSI which shows that price can give upmove in coming days/weeks.
The company is also a leader in its segment with great market share. Hence it must be kept in radar
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
After breakout, a major resistance becomes major support. Here we can see price taking support from that level many times. But not just that, it is also showing Bullish Divergence on RSI which shows that price can give upmove in coming days/weeks.
The company is also a leader in its segment with great market share. Hence it must be kept in radar
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
