SBICARD | Monthly Timeframe Analysis

🔥 Technical Breakout with a Strong Rejection Wick!

🔸 Parallel Channel Breakout
Price has convincingly broken out of a long-standing parallel descending channel (orange) — a bullish signal indicating a potential trend reversal.
🔸 Counter Trendline Broken
The white counter-trendline was broken earlier, leading to bullish momentum building up gradually. This breakout aligns with classic reversal theory.
🔸 Supply-Demand Flip Zone (Grey Box)
The price action respected the SUPPLY → DEMAND zone beautifully before launching upward, confirming it as a key area of interest.
🔸 Long Wick Rejection Candle
Notice the most recent monthly candle: a long lower wick with a strong body, closing near the highs.

🟠 Parallel Channel
⚪ Counter Trendline
⚫ Grey Supply-Demand Zone
🟥 Top Supply Zone
🟢 Bullish Rejection Candle