Inverted head and shoulder chart pattern formed and today we see breakout of neckline with good price and volume.
Price start advancing after formation of bullish engulfing at support level 375.
Exponential Moving Average 20, 50 and 200 start converging and try to tight knot at current level from below is a good indication of accumulation and we can expect a good upside with limited downfall.
RSI is moving up and current level is above 60, which shows good strength and potential to go up.
Price start advancing after formation of bullish engulfing at support level 375.
Exponential Moving Average 20, 50 and 200 start converging and try to tight knot at current level from below is a good indication of accumulation and we can expect a good upside with limited downfall.
RSI is moving up and current level is above 60, which shows good strength and potential to go up.