“Rounding bottom” Breakout
On the daily chart, the stock hasn witnessed a strong breakout from its “rounding bottom” pattern on a closing basis indicating short term trend reversal
The stock has recaptured its 20 and 50 day SMA and rebounded very sharply
Rising volumes near support zone implies increased accumulation at lower levels
The daily “band bollinger” buy signal reconfirm positive bias
The daily and weekly strength indicator RSI signals positive crossover indicate rising strength
The above analysis indicate upside of 118-124 levels.
Time period is 3 to 4 weeks.
The stock has recaptured its 20 and 50 day SMA and rebounded very sharply
Rising volumes near support zone implies increased accumulation at lower levels
The daily “band bollinger” buy signal reconfirm positive bias
The daily and weekly strength indicator RSI signals positive crossover indicate rising strength
The above analysis indicate upside of 118-124 levels.
Time period is 3 to 4 weeks.
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