Good Setup
Parallel channel breakout. Also 4 year resistance zone have become as a good support now for the stock. Easily can go to All time highs but first target can be 1420. There are three possibilities from here "a" ,"b" and "c".
a- stock can touch recent lows around 1160-70 and can bounce from there.
b- can touch the resistance zone once again and then bounce.
c- Starts flying high from tomorrow onwards.
We can take our position according to "a" and "b" because movement according to "c" will be difficult to execute.
a- stock can touch recent lows around 1160-70 and can bounce from there.
b- can touch the resistance zone once again and then bounce.
c- Starts flying high from tomorrow onwards.
We can take our position according to "a" and "b" because movement according to "c" will be difficult to execute.
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