JSWSTEEL - potential bullish setup

١٦ يناير ٢٠٢٢

JSWSTEEL is in ttm squeeze from past 22 weeks and it's making a high probability bullish setup.

1) All moving averages are stacked up.
2) Volume has decreased over time while the price retraced from the high.
3) VZO is showing sudden spike in recent candles and volume is also increasing gradually.
4) Price is getting rejected from 34 EMA and showing more buying pressure.

Because of above reasons, I think that there's a higher chances of squeeze firing upside.