ROUTE MOBILE LTD is nicely following the Parallel Channel till now. It is a very much of a potential candidate for Parallel Channel breakout with increase in Volume also.
Till now it has been taking Resistance and Support of the Upper and Lower edges of the Parallel Channel. In between it also has shown some resistance level at the center line of the Parallel Channel.
It may experience some retracement at such high level. It is expected to get retraced till the center line of the Parallel Channel and take support there, since it also has acted as Resistance earlier. It may come down to near level of previous high which can act as Support now.
Till now it has been taking Resistance and Support of the Upper and Lower edges of the Parallel Channel. In between it also has shown some resistance level at the center line of the Parallel Channel.
It may experience some retracement at such high level. It is expected to get retraced till the center line of the Parallel Channel and take support there, since it also has acted as Resistance earlier. It may come down to near level of previous high which can act as Support now.