From Feb 12- Mar 10 price compression has happened and have seen a multiple Inside Bar candles.
12th Mar, BO has happened with very high volume showing the strength.
While retesting the BO level, volumes are less
RSI showing Hidden Bullish Divergence.
Stock has retest the BO levels(109)
SL would be 101.5 is a latest HL.
Also stock is respecting 0.3 Fib retracement levels (104.35)
Holding the SL would take the stock to move another 25 points up from current level
Stock after given BO from 192 levels with very good volume.
When price came to that levels then it rejecting from bottom side.
192 should act as a strong support for any further up move.
Also descending triangle pattern is in formation.
Points 1 & 2 marked on RSI are forming a Hidden Bullish Divergence.
Same points are marked on the price chart and extended the line, marked as A
At point 3, candle has taken the support on extended line A
Also we can see that price has formed a rectangle box pattern makred in green and has given a BO from that channel
BO is supported by very good...
ESABINDIA Weekly Chart
Price bar 1, has given a BO from 1736 levels with good volume bar a as marked in the chart.
B on RSI has formed a Hidden Bullish Divergence. That point will act as a strong support for the stock. Ideally SL will be this level ( 1736 levels )
After BO from line A, multiple candles have done retest to that levels.
Also we can see it has...
Stock has formed a low at 62 levels in May 2020.
Since then stock is making HH-HL.
Stock moved above 200 EMA and it is acting as support.
131 is acting as the short-term resistance for the stock.
Also stock is making trading is rising parallel channel.
Since May 2020 stock is not breaking previous HL.
MULTIBASE Weekly Chart
Stock is trading in a rectangle box pattern from past few weeks.
Volumes are very good from past few weeks.
BO from the box pattern will lead the stock to another 100 + points.
SL - 168