Ramco Ind (Daily Timeframe) - Is this a false BreakOut??

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Ramco BrokeOut of a multi-year resistance trendline (since 2000) today with huge volume and stock price zooming by 8.03%. The last time it BrokeOut of this trendline was in 2021 which did not sustain but the stock made a new ATH then. Short-term EMAs are in PCO state as well as EMAs & DMAs are in Golden Cross-over state.

On the upside the stock may reach 366 levels & on the downside the stock may reach 277 levels.

The price-action in the coming days will dictate how the stock moves. Keep monitoring.

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