The price has been moving within a rectangular range between approximately 128 and 138.90, as highlighted by the green box. The stock has been in this range, testing support and resistance levels multiple times. A potential breakout is indicated at 138.90, as marked on the chart. If the stock successfully breaks out above this level with significant volume, it could head towards the resistance zone around 152, offering a strong upside. Given the consolidation and the recent bullish candlestick patterns, a long position is recommended upon a confirmed breakout above 138.90. This setup presents an attractive risk-reward opportunity, provided stop-loss orders are placed just below the support level at 128 to mitigate downside risks.
Note
Rejected from the test of rectangular resistance in todays session.Need to close above for the next bullish wave!
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.