MPHASIS - The stock may have completed its correction cycle and resume higher now. As long as the correction doesn't extend (price doesn't fall below the previous low), the uptrend should continue in the long term.
long term is an understatement and shooting in the dark. share a definate time frame please
sKeshav
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@vineetsehgal4000, The price did not break the upper trendline yet. Once the price breaks above, the invalidation level goes at the previous lowest level. My analysis is based on the idea that the long term correction may be over (corrected about 50% of stock value) - implying that the stock would only grow from here. So the 'long term' view means that a stock can be a buy/hold in the coming years.