The Stock Is Looking Extremely Bullish- Keep In Radar

16 באוק׳

✅ The stock has already broken out from a flag & pole pattern on the daily time frame which is an extremely bullish continuation setup. This pattern typically indicates a period of consolidation followed by a sharp rally and the breakout suggests that the stock is ready to make new highs.

✅On the weekly chart the stock has successfully broken out of a long-standing ascending channel confirming a bullish trend continuation. The price has surpassed the resistance level around 380 which was previously a strong cap indicating a shift in momentum.

✅ There’s been a noticeable spike in volume as the price broke out of the pattern, which adds further validation to the move. Such volume behavior indicates institutional interest a key factor for sustained upward movement.

✅ The RSI is currently at 75 reflecting strong bullish momentum. Although it’s in the overbought zone, stocks breaking out from key patterns often see continued strength despite elevated RSI levels as traders flock to the trend.

✅The breakout level around 380 will now act as a new support providing a solid base for the stock. If the stock can hold above this level it confirms the strength of the breakout and could lead to a rally towards 440 followed by 460 as the next target.