In longer time frame it is in strong uptrend.
In daily, it is at the support of ascending channel support. It is likely to move towards the channel resistance.
sl - 248 tgt1 - 275, tgt2 - 290,
I had highlighted this stock earlier . It has since appreciated by about 30% and going strong. Price action is constructive today after yesterday's volume spike.
I own shares in this company. Would add more today.
This is an example of the simple concept of breakout & retest. Notice how price corrects hesitantly even as trading volume dries up. This is classic signature of a stock in an uptrend. Notice the breakout today with higher volume.
Everything suggests buyers are active in the stock. Keep it in your watchlist.
After years of consolidation, stock has given a Breakout above 115-125 levels with Huge volume.
Currently wave (1) of elliott wave has started.
Any dips towars 115-120 levels is a buying opportunity.
