The stock recently experienced a multi-year breakout, marking a significant event after a 15-year period. Additionally, there was a rounding bottom pattern breakout, supported by good volumes. After breaking out, the stock retraced to retest the breakout levels and exhibited a strong bounce with a bullish candle. Furthermore, there was a short-term trendline breakout on the daily chart, signaling a potential shift in the stock's short-term trajectory.
The combination of a multi-year breakout, rounding bottom pattern breakout with good volumes, successful retest, and short-term trendline breakout paints a comprehensive bullish picture. Traders and investors may find these technical signals compelling, indicating the potential for sustained upward momentum in the stock.
Following a strict SL is important.
The combination of a multi-year breakout, rounding bottom pattern breakout with good volumes, successful retest, and short-term trendline breakout paints a comprehensive bullish picture. Traders and investors may find these technical signals compelling, indicating the potential for sustained upward momentum in the stock.
Following a strict SL is important.