Multi Year Breakout / Strong RSI

٢٩ مايو ٢٠٢١

The stock has made a bullish breakout from a technical pattern of a Head and Shoulder on a weekly chart. Breakout is supported by its volumes where there has been an increase in volume near the breakout level. Thus, one can consider a buying opportunity in this stock

Price consolidated for a 3 years
Price was facing major resistance at 250
Price has taken out its long term resistance of 250 with a strong candle and with a high volume.
Now the previous resistance will become major support

SL 233
Target 380