1. The stock came down with literally no Bear volumes . 2. It took the support of 50 EMA. 3. The bears tried very hard to bring the price further down, but were exhausted at the red line (POC). 4. Smart money had been accumulating at the red line since past many days. 5. Finally Bulls took control and the power of smart money was seen today.
Such setups are deemed to be of high strength and can easily flow into new high.