Amber has entered into the growth phase after a long period of decline and consolidation.
It has just crossed its resistance line, and looks ready for a breakout to levels of 3300 and 3700 respectively. The volumes and technicals are supporting the movement upside.
The earlier resistance at 3000 is now acting as support.
Symmetrical pattern can go either ways....
The stock has given Falling Wedge breakout on a daily chart. No stock in the accumulation zone. RSI indication continuation of the trend.ADX is indicating strength in the trend. We can expect price movement up to 3170 in the near term. Also expect price movement up to 3250 in the mid-term.
In the Daily chart, Amber shows a quick reversal that can boost it towards its Resistance at 3000. With Proper SL one can long till resistance or if it breaks the Trend Line one can hold the share with Trailing SL.
On the RSI front, this is in the Oversold zone which confirms the reversal.
enter @3000-20 range
sl below 2970(risk 60 point)🙏
🧩fundamentally strong stock.
🧩chart looks good.small risk high benefit trade.
🧩the stock is in a good support zone
🧩weekly chart.chance to continue its trend.👇
study then invest🙏
Amber trading in tight ascending channel. Showing lot of strength after taking support from the lower end of the channel. Long entry can be considered for target upto the upper band of the channel. Keep on eye on the overall market sentiments too.