BERGER BREAKOUT After hitting a all time high of 870 levels stock came down to 530 levels and witnessed a sharp correction of 40% almost from the highs and broke it's 100 day moving average on 16th September in year 2022 at 640 levels it is almost a correction of 17 too from a breakdown of 100 ema, but by today's session it gives a close above on that 100 ema after after six months trading below that moving average and broken a resistance at 576 levels which is identified for a resistance for uptrend resumption after making the swing low of 530 levels so I am considering this as a breakout for the target of 625 to 640 levels with the stop loss of a daily candle close below of that resistance of 575 levels hopefully it will follow the rounding bottom arc and will the given targets for us.
IDENTIFICATIONS-:
💡100 EMA FACTORS
💡 RESISTANCE BREAK WHICH WAS NEEDED FOR UPTREND RESUMPTION
💡 ROUNDING BASE FORMATION AND PICKING UP FROM THERE
𝐍𝐎𝐓𝐄-: 𝐓𝐇𝐈𝐒 𝐈𝐃𝐄𝐀 𝐈𝐒 𝐎𝐍𝐋𝐘 𝐅𝐎𝐑 𝐄𝐃𝐔𝐂𝐀𝐓𝐈𝐎𝐍𝐀𝐋 𝐏𝐔𝐑𝐏𝐎𝐒𝐄.
𝐑𝐞𝐠𝐚𝐫𝐝𝐬-: 𝐀𝐦𝐢𝐭 𝐑𝐚𝐣𝐚𝐧 👤✌️
