The stock has been following the ascending trend of higher highs and higher lows for a few weeks now.
There is a pattern emerging by looking at the chart, which I have divided in 3 phases.
Each phase is preceded by high volume, followed by consolidation. As soon as the price has touched the trendline, we have observed a spurt in volume and price.
If the history repeats, as we are standing in the current situation, we can very soon expect a breakout to levels of 565.
The stop loss can be maintained at 430, which was the resistance level before the previous breakout.
Supporting technicals:
RSI: 56.7 (ModeratelyBullish but not overbought)
ADX: 30 (Suggesting strong trend)
P.S: This idea is for educational purposes only and should not be construed as an investment advice.
There is a pattern emerging by looking at the chart, which I have divided in 3 phases.
Each phase is preceded by high volume, followed by consolidation. As soon as the price has touched the trendline, we have observed a spurt in volume and price.
If the history repeats, as we are standing in the current situation, we can very soon expect a breakout to levels of 565.
The stop loss can be maintained at 430, which was the resistance level before the previous breakout.
Supporting technicals:
RSI: 56.7 (ModeratelyBullish but not overbought)
ADX: 30 (Suggesting strong trend)
P.S: This idea is for educational purposes only and should not be construed as an investment advice.
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.