Price making higher highs and higher lows. After each high there is sell off and movement towards the trend line followed by a breakout.
CMP
SL:85.15
Target:95
The stock has been stuck in a trading range for almost 3-years now. The volume signature within this trading range indicates that major accumulation is underway in this stock. The price action in the past few weeks has been very constructive with volumes picking up along with momentum to the upside.
I am watching this stock with interest and would buy it either...
Price seems to be breaking out above 162, from a weekly consolidation zone. An interesting long setup here.
Will add longs on a smaller retracement day.
