1. In April’23 & May’23 Stock took support of a long term trend line on monthly chart. (this can be considered as end of wave 4 on monthly chart).
2. Also we can see Reverse Divergence (Bullish) between Lows of March’20 and April 23 as Price was making Higher Low and MACD was making Lower Low.
3. May 23 can be considered start of 5th wave.
4. Going deep in to the 5th wave on the Monthly Chart, Starts with a bottom formed on 17
Apr ’23 with a very high volume.
5. On 18th Dec 23 there was a Breakout of highs of some high volume candles formed in last 20 weeks.
6. Price is retesting above support (Highs of High Vol. candle)
7. On daily chart, Lower Bollinger band and EMA 50 are acting as a major support.
8. On Hourly Chart, Divergence is observed and double bottom is formed.
2. Also we can see Reverse Divergence (Bullish) between Lows of March’20 and April 23 as Price was making Higher Low and MACD was making Lower Low.
3. May 23 can be considered start of 5th wave.
4. Going deep in to the 5th wave on the Monthly Chart, Starts with a bottom formed on 17
Apr ’23 with a very high volume.
5. On 18th Dec 23 there was a Breakout of highs of some high volume candles formed in last 20 weeks.
6. Price is retesting above support (Highs of High Vol. candle)
7. On daily chart, Lower Bollinger band and EMA 50 are acting as a major support.
8. On Hourly Chart, Divergence is observed and double bottom is formed.