The stock is of utmost importance because of a high increase in the share price at relatively high volume. The volume was higher than the average traded volume. This sharp increase in the prices as has also caused the slope of the 9-day MA to turn positive.
Kindly take note of the purple and yellow lines. They represent resistance and support levels. The stock has kind of bounced back near the support level and it is going closer to the resistance level. If you witness a breakout then it is a signal for you to enter long.
Kindly note that the advice we provide are based solely on technical analysis. There are thousands of factors that can affect the price of a stock. So do not rely solely on our tips. Please do listen to news and also perform your own analysis to determine whether you should enter a position or not. We would not be held accountable for any loss you might suffer in process of trading. The above are for information purposes only, trade at your own risk.
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