UPL long opportunity

Jan 7, 2022UPL
Hello All!

UPL has been traveling in a channel since March 2020. It came back to its lower channel trendline, took support, and took off. It also broke the trendline 1 with good volumes. This I believe generates a good opportunity to go long!

Besides Price action, there are other factors too which strengthen my conviction:

->Support of 50 day EMA
->Support of 200 day EMA
->Support from 50 week EMA

Reward to Risk ratio also seems favorable. Risk-averse traders can wait for it to break the resistance zone before entering.

*NOT A CALL*