Stock To Keep In Radar:- Technically Looking Very Strong

2024年9月18日

- The stock has been moving within a well-defined rising channel since mid-2022. This is a bullish continuation pattern that indicates the stock is trending upwards in a structured manner forming higher highs and higher lows.
- The stock recently bounced off the lower trendline of the channel and is heading towards the upper boundary suggesting further upside potential.

- The immediate resistance is around 70 where the stock previously encountered selling pressure. A breakout above this level would confirm the continuation of the bullish trend, and the price could move towards the upper boundary of the channel, which is around 90.

- The stock has strong support around 60 where it has consolidated multiple times in the past. This zone has acted as a demand area where buyers stepped in to push the price

- The recent price movement is supported by increasing volume suggesting strong buying interest. The rising volume is a good indicator of the stock's bullish momentum and increases the likelihood of the stock continuing its upward trend within the channel.

- The RSI is currently at 60 suggesting that the stock is gaining momentum but is not yet overbought. This leaves room for further upside before it reaches extreme levels supporting the bullish view for a potential rally towards 90.