Yes Bank is showing signs of a potential trend reversal after being locked in a multi-year sideways consolidation since June 2020. Last week, the stock gained +4.2% on the back of a massive volume surge, indicating a significant increase in buyer interest.
The stock is now positioned directly below a critical horizontal resistance trendline. A decisive breakout above this level is required to confirm a shift from its long-term consolidation phase into a new uptrend.
Strong Long-Term Bullish Signals 👍
The potential for a reversal is supported by positive signals on higher timeframes:
- Monthly & Weekly Momentum: Short-term Exponential Moving Averages (EMAs) are in a bullish crossover state on both the monthly and weekly charts.
- Confirmed Strength: The Relative Strength Index (RSI) is also rising on both the monthly and weekly timeframes, confirming strong underlying momentum.
Outlook: A Breakout Awaits
The stock is at a crucial make-or-break point. While the long-term indicators are bullish, overcoming the overhead resistance is essential.
- Bullish Case 📈: If the current momentum is sustained and the stock achieves a decisive breakout, the next potential target is the ₹27 level.
- Bearish Case 📉: If the resistance holds and the momentum fades, the stock could pull back to find support near the ₹18 level.
The stock is now positioned directly below a critical horizontal resistance trendline. A decisive breakout above this level is required to confirm a shift from its long-term consolidation phase into a new uptrend.
Strong Long-Term Bullish Signals 👍
The potential for a reversal is supported by positive signals on higher timeframes:
- Monthly & Weekly Momentum: Short-term Exponential Moving Averages (EMAs) are in a bullish crossover state on both the monthly and weekly charts.
- Confirmed Strength: The Relative Strength Index (RSI) is also rising on both the monthly and weekly timeframes, confirming strong underlying momentum.
Outlook: A Breakout Awaits
The stock is at a crucial make-or-break point. While the long-term indicators are bullish, overcoming the overhead resistance is essential.
- Bullish Case 📈: If the current momentum is sustained and the stock achieves a decisive breakout, the next potential target is the ₹27 level.
- Bearish Case 📉: If the resistance holds and the momentum fades, the stock could pull back to find support near the ₹18 level.
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
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Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
免責事項
これらの情報および投稿は、TradingViewが提供または保証する金融、投資、取引、またはその他の種類のアドバイスや推奨を意図したものではなく、またそのようなものでもありません。詳しくは利用規約をご覧ください。