“Rounded bottom” pattern Breakout

SONATASOFTW on the weekly chart has decisively broken out above the “Rounded bottom” pattern at 750 level indicating a positive bias.

Stock is forming a higher high-low on 3 March, 2023• Stock is forming a higher high-low on the weekly chart. This formation indicates a positive uptrend.

The breakout is accompanied with an increase in volume confirming participation at breakout level.

The weekly strength indicator RSI is holding above its reference line indicates positive momentum.

The above analysis indicates an upside of 850-885 levels.

Buy Range: 770-756 Stop loss: 720 Upside: 11% –16%


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