After being one the star performer of 2020 -2021, the stock underperformed for 6 months. Now the tide has turned again and the stock broke of its all-time high around 2070 and which has now turned as a solid support and has been tested multiple times. The breakout looks more genuine and there are multiple triggers that hint the same
Technically one can buy the stock at 2475 with a Sl of 2435 and target of 2515 and 2545.
The stock has a higher high lower low formation confirming the trend and a sizable amount of volume on the breakout gives additional confidence. The volume activity has been above the average during this move. The daily RSI has seen the highest reading in the 6 months, the daily MACD has been in a strong buy mode. All congestion point has surpassed.
Conclusion: The stock has the potential to gradually move toward 2515 and 2545, with all parameters confirming the trend. This is a solid foundation of an another leg of uptrend
Technically one can buy the stock at 2475 with a Sl of 2435 and target of 2515 and 2545.
The stock has a higher high lower low formation confirming the trend and a sizable amount of volume on the breakout gives additional confidence. The volume activity has been above the average during this move. The daily RSI has seen the highest reading in the 6 months, the daily MACD has been in a strong buy mode. All congestion point has surpassed.
Conclusion: The stock has the potential to gradually move toward 2515 and 2545, with all parameters confirming the trend. This is a solid foundation of an another leg of uptrend