The chart of PAR Drugs shows a strong accumulation phase followed by consistent base shifts, indicating a steady uptrend with strong support levels forming at higher price ranges.
Key observations: Strong Base Formation: The stock established a solid support level early on, acting as the foundation for the uptrend.
Base Shifts: Multiple higher bases were formed, showing sustained buying interest and bullish momentum.
10-Week EMA Support: The stock repeatedly tested and respected the 10-week EMA, confirming it as a dynamic support level.
Bullish Candle with Volume: The latest bullish candle is supported by high volume, signaling strong buying interest and potential for further upside.
Huge Volume Activity: The significant spike in volume during recent moves suggests institutional participation.
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