Reasons to go Long :
1. On a if we draw the tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. A chart pattern, (W pattern) is formed around 0.618 Fibonacci level.
3. Also there is a strong (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
4. The stock can go up to the (marked with purple color) & trendline where it may face resistance.