Looking Very Strong For Longterm Investment 📊 Bannari Amman Sugars
✅ The stock has recently broken out above a massive 18-year-old resistance trendline, a highly significant technical event. This breakout from such a long-term resistance level indicates a major shift in sentiment and could lead to substantial upside as the stock enters a new growth phase.
✅The stock is comfortably trading above its 50 EMA and 100 EMA reinforcing the bullish trend. These EMAs are acting as dynamic support further validating the strength of the recent breakout. A pullback to these levels would likely attract fresh buyers.
✅ The breakout has been accompanied by a noticeable increase in trading volume, suggesting strong buying interest. Such volume behavior typically reflects institutional participation which is essential for sustaining a long-term rally.
✅ The RSI currently stands at 59 well below the overbought zone, suggesting ample room for further upside. The RSI has shown consistent strength indicating that the stock is building momentum for a continued upward move.
🚨 Following the breakout the stock’s immediate target is 4000 with a potential extension towards 4200 if the bullish momentum continues. These targets are based on the breakout projection from the previous resistance zone.
🚨The 3000 level now acts as a critical support having served as a resistance before the breakout. Any pullback towards this level should be seen as a buying opportunity especially for long-term investors aiming to accumulate shares.
🚨 The breakout above an 18-year resistance line is a powerful signal marking the beginning of a potential long-term uptrend. The combination of strong support from EMAs volume confirmation and favorable RSI levels makes Bannari Amman Sugars Ltd an attractive choice for investors seeking long-term growth.
