After breaking out the supply zone (244-269) it went into a consolidation of 30weeks in 24% range it broke out of it and formed another base of 3 weeks and 9% range.
The stock is showing immense strength.
A trend based fib is not feasible as the data is too short. So we would look for price action and strength. It is trading above all the key moving averages.
Now it shall sustain above 372 levels and if it manages to close below it and sustain there then this view will stand invalid.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade at your own risk.
The stock is showing immense strength.
A trend based fib is not feasible as the data is too short. So we would look for price action and strength. It is trading above all the key moving averages.
Now it shall sustain above 372 levels and if it manages to close below it and sustain there then this view will stand invalid.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade at your own risk.