SUVEN Stock Breakout analysis

11 בספט׳ 2023

SUVEN is a performance based stock. and if we look at the chart we can see it has given the breakout after a nice consolidation of more than 1 year.
it’s expected to give a nice target of R:R :: 1:5.

Reason

1. Support at the VWAP.
   
2. RSI is in Bullish zone, Trendline break of trangle.
   
3. Successful breakout after 14 months
   
4. High Volume trade last 2 days.
   
5. successful breakout of the strong Resistance Zone. Now it will act as support
   
6. Price > EMAs
   

Verdict:
Stock is highly Bullish
R:R :: 1:5

Plan of Action:
Buy: 69.45
Stoploss: 65
Target: 90