The stock seems to be at a point of reversal due to the following reasons
1) The stock is at 200 days moving average support and has also given a solid closing for the day.
2) The stock is also at an important support level from which it previously gave strong rallies.
Stock recently broke the MA 200 after consolidating.
Seems to be taking support at breakout area which is also near MA 200.
Might be a good long opportunity !!
Stock has faced resistance at MA 200 in past and currently is facing it again at MA 200 + the area is also previous resistance level.
Might give a good short opportunity if follows the same!
Stock is in uptrend + respecting MA 200.
Gave the breakout after build up and taken support at previous resistance / breakout area. Currently seems to be consolidating, respecting trend line.
If breaks the trend line, might run for ALL Time High!
Current scenario seems to be favouring long opportunities !!
