WABAG buy signal at 183 , 24% move to be expected

I will go LONG on WABAG because:
1) The price is forming a Chanel or Rectangle Pattern .
3) The price is also under Support/Resistance zone.
4) It has touched the support and may reach the resistance zone .
5) Target would be the Resistance area . Book profit when it reaches the resistance zone .

Entry - 183
Target - 224/229
Stop loss - 170