Hi Traders,
This stock will provide some buying opportunities in coming days.
As we breakdown the chart, the price has broken through the weekly inner trendline in confluence with the break of SMA 50. This is a good indication that price will test the outer trendline .
The weekly chart formed a double bottom pattern and broke above the neckline, that's another reason to buy this stock.
A thing of concern about this stock is that we have a golden zone between 109.50 - 118.00 level, where price can move in a range before testing the outer trendline .
We should expect some drawdown as price can retest the broken levels. we have strong support at the neckline of double bottom and at the inner trendline .
A break above 130.40 levels marks the end of a 2 year long downtrend, and we will have a bullish outlook on this stock for at least a year and half.
For this kind of complete technical analysis msg me the stocks that u would like to have complete technical analysis .
Pls Like and follow .
Happy Trading.....
This stock will provide some buying opportunities in coming days.
As we breakdown the chart, the price has broken through the weekly inner trendline in confluence with the break of SMA 50. This is a good indication that price will test the outer trendline .
The weekly chart formed a double bottom pattern and broke above the neckline, that's another reason to buy this stock.
A thing of concern about this stock is that we have a golden zone between 109.50 - 118.00 level, where price can move in a range before testing the outer trendline .
We should expect some drawdown as price can retest the broken levels. we have strong support at the neckline of double bottom and at the inner trendline .
A break above 130.40 levels marks the end of a 2 year long downtrend, and we will have a bullish outlook on this stock for at least a year and half.
For this kind of complete technical analysis msg me the stocks that u would like to have complete technical analysis .
Pls Like and follow .
Happy Trading.....