What is Dow theory?
The Dow theory is a financial theory that says the market is in an up-trend if one of its averages (i.e. industrial or transportation) advances above a previous important high and is accompanied or followed by a similar advance in the other average. For example, if the Dow Jones Industrial Average (DJIA) climbs to an intermediate high, the Dow...
The stock has moved to all time highs. I think there will be a lot of resistance at the high point and it will retrace towards the long term resistance marked on the chart.
It is in a strong bull run and will provide a good buying opportunity in the coming few days.
Buy @ 3650
SL @ 3400
Trailing stop loss strategy.
⚡️Horizontal Breakout above 490
⚡️Trend of stock has reversed after sloping trendline breakout above 420
⚡️200 SMA breakout above 420
⚡️Strong trend confirmation by RSI and ADX
⚡️Looks good for positional 10-20% upside with SL below 425