The stock has a well established uptrend, and the price has come to the slope and has seen a 14% fall from the all time high price, which means one can expect the correction in prices to pause here and the uptrend should resume!
After consolidating between 240 and 160 for quite a few months, it appears that the trend has resolved on the upside. Expecting current fall to turn out only as a pullback in the larger scheme of things, and price should continue going up and fill the big Gap area!
Price at bounce area, and if the bounce happens, it could form an Inverse head and shoulders, thus making it a good choice for even investors to buy this stock. First target expected around 3250 for traders, for investors, they need to be in this trade for a few months to reap good rewards.
The stock is in a strong up-trend. Daily RSI has come to its Oversold level, and the price is almost at the Moving Average support. Plan is to be on the side of the larger trend which is up. So the stock is expected to first go to 2550. Investors can hold the stock for a new high.