In the monthly chart, the stock has been forming a cup pattern. In January 2015, it reached a high, breaking above the upper Bollinger Band, followed by a correction from the level of 613 down to 140. Since then, the stock has shown a reversal, nearing its all-time high, and once again breaking the upper Bollinger Band.
Currently, the stock is taking support from the middle Bollinger Band, which is also the 20 Exponential Moving Average (EMA), and the major support of the 50 EMA. If the stock breaks below the 20 EMA support, the next support level to watch is around 370, where a bounce back might be expected.
Watchlist Status:
This stock will be added to the watchlist for potential buying opportunities based on support levels and trend reversals.
Disclaimer
This analysis is for informational purposes only and does not constitute financial advice. Investing in stocks involves risk, including the possible loss of principal. Always conduct your own research or consult with a qualified financial advisor before making investment decisions.
Currently, the stock is taking support from the middle Bollinger Band, which is also the 20 Exponential Moving Average (EMA), and the major support of the 50 EMA. If the stock breaks below the 20 EMA support, the next support level to watch is around 370, where a bounce back might be expected.
Watchlist Status:
This stock will be added to the watchlist for potential buying opportunities based on support levels and trend reversals.
Disclaimer
This analysis is for informational purposes only and does not constitute financial advice. Investing in stocks involves risk, including the possible loss of principal. Always conduct your own research or consult with a qualified financial advisor before making investment decisions.