Coforge (D): Strongly Bullish, Triple Top BreakoutTimeframe: Daily | Scale: Linear
The stock has confirmed a major breakout from a 6-month consolidation structure. By closing above the triple-test resistance zone, the "bearish" triple top pattern has been invalidated and converted into a bullish breakout .
📈 1. The Long-Term Structure (The Reversal)
> The Cycle:
- Peak: ATH of ~2,005 in Dec 2024.
- Correction: A downward spiral until April 2025 .
- Turnaround: Since April, the stock has shifted structure to Higher Lows , indicating buyers are stepping in aggressively on dips.
> The "Lid" (Resistance Zone): The 1,951 – 1,959 zone acted as a stiff resistance, rejecting the price three times (ATH, July 2025, and recently). This made it a "Triple Top" barrier.
💥2. The Breakout (Today's Action)
> Pattern Shift: Today, the stock finally **closed above** this resistance zone (1,951–1,959).
- Technical Significance: A close above a Triple Top resistance negates the bearish reversal and triggers a powerful continuation breakout .
> Volume Confirmation: The surge of 2.81% was backed by 3.12 Million in volume. This expansion (after a period of decreasing volume) confirms that "smart money" pushed the price through the wall.
📊 3. Technical Indicators
> RSI: Rising in Monthly, Weekly, and Daily timeframes.
- Caution: Watch for Bearish Divergence (Price making a higher high while RSI makes a lower high) as the stock approaches its ATH.
> EMAs: The PCO (Positive Crossover) state across all timeframes confirms the trend is synchronized to the upside.
🎯 4. Future Scenarios & Key Levels
With the "lid" at 1,960 removed, the path is open to retest the highs.
> 🐂 Bullish Targets:
- Target 1: 2,005 (The ATH). This is the immediate magnet.
- Target 2: Blue Sky . A sustained close above 2,005 puts the stock in price discovery mode.
> 🛡️ Support & Re-test:
- The "Safe" Entry: Waiting for a re-test of the 1,951–1,959 level is the prudent strategy. If the stock pulls back and bounces from here, it confirms the breakout.
- Stop Loss: If the stock falls back below 1,920 , it would signal a "fakeout" and likely trap the new buyers.
Conclusion
The breakout is valid. The "Triple Top" is no longer a threat; it is now a launchpad. Watch for the stock to hold above 1,951 to confirm the move toward 2,005 .
