“Consolidation zone” Breakout
VBL on the weekly chart has decisively broken out above the “Consolidation zone” between 1350-1120.
Stock is holding above lower band of 3 March, 2023• Stock is holding above lower band of medium term rising channel. It is heading towards upper band of rising channel.
Stock holds above 38% Fibonacci Retracement of a rally from 540-1432 placed at 1100 forming a medium term support zone.
The weekly strength indicator RSI is in bullish mode and weekly RSI crossover above its reference line generated a buy signal.
The above analysis indicates an upside of 1490-1530 levels.
Buy Range: 1360-1334 Stop loss: 1275 Upside: 11% –14%
Stock is holding above lower band of 3 March, 2023• Stock is holding above lower band of medium term rising channel. It is heading towards upper band of rising channel.
Stock holds above 38% Fibonacci Retracement of a rally from 540-1432 placed at 1100 forming a medium term support zone.
The weekly strength indicator RSI is in bullish mode and weekly RSI crossover above its reference line generated a buy signal.
The above analysis indicates an upside of 1490-1530 levels.
Buy Range: 1360-1334 Stop loss: 1275 Upside: 11% –14%
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