SBI Life Strong Multi-Year Breakout Key Retest in Progress
✅ The stock has recently broken out above a 7-year-old strong resistance level, which has acted as a major barrier since 2017. Breaking this long-standing resistance indicates a significant bullish development, suggesting further upside potential.
✅ After the breakout, the stock is currently retesting the previous resistance level around 1,690 This retest is crucial; if the stock successfully holds above this level and rebounds, it would confirm the breakout and likely lead to a continuation of the upward trend.
✅ The RSI is currently at 68, approaching the overbought zone. If the RSI moves higher into the 70+ range, it would confirm strong bullish momentum, supporting further gains in the stock. Watch for any bearish divergence signals that could indicate overextension.
✅ After the breakout, the stock is currently retesting the previous resistance level around 1,690 This retest is crucial; if the stock successfully holds above this level and rebounds, it would confirm the breakout and likely lead to a continuation of the upward trend.
✅ The RSI is currently at 68, approaching the overbought zone. If the RSI moves higher into the 70+ range, it would confirm strong bullish momentum, supporting further gains in the stock. Watch for any bearish divergence signals that could indicate overextension.
Trade active
1692 to 1760
Join our community in telegram for real time updates --- telegram.me/marketiik
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join our community in telegram for real time updates --- telegram.me/marketiik
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.