Don’t Miss This Stock Giving Breakout from Long-Term Downtrend

16 de jun.

✅The stock has been in a long-term downtrend within a descending triangle but has recently shown signs of breaking out above the descending trendline. This breakout indicates a potential bullish reversal, supported by a 2.8-year-old strong support level.

✅ Immediate support around ₹220, aligning with the lower trendline and strong support level. This provides a robust base for potential upward movement.

✅ Noticeable increase in volume with the breakout above the descending trendline, signaling strong buying interest and supporting the bullish outlook.

✅ RSI is currently at 57.08, trending upwards and indicating increasing bullish momentum without being overbought. The MACD histogram shows rising bullish momentum, with the MACD line crossing above the signal line, suggesting a buy signal.