Stock has had bounce in the month of August 18, however since then its struggling near that month's high i.e 200-215.
Currently stock has formed Gartley Pattern .
I had discussed about this stock on a few occasions earlier. The expected breakout did not materialize until recently. The price action in the past few weeks / months has not invalidated the view shared in prior updates. Stock looks interesting and am keenly watching it for entry opportunities.
Detailed plotted & mentioned on Chart.
Result is good both Topline & Bottom Line.
Disclaimer: Take this information as study/education purpose only.
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Poised beautifully to give a good breakout on a long term scale! Can it finally move out of its congestion range of 180-190 range and start making new highs? Time will tell.. A good SL for this script shall be 178 on closing basis
Notice the pull back to the prior selling / breakout zone, represented by the top two horizontal red lines. Price has come back to retest or check for sellers. Notice the dip in volume in the last couple of trading sessions which represents the probe or retest.
If my assessment is right, price is likely to breakout soon. A move past 186 would be an interesting...
As highlighted in the chart, price has completed a Wyckoff Accumulation phase. Breakout from the range with higher volumes indicate the start of Mark-Up phase.
Watch this stock.
This stock appears to be in a Wyckoff Accumulation zone. A swift breakout past the top of the range at 171 would be a big positive development. Am watching this stock with interest...
