Stock has finally broken above its major resistance near 850 which has remained a crucial level since December 2021. The weekly chart is showing a powerful W pattern with repeated support near 400 and a clear neckline breakout. This is a significant bullish structure shift after almost 5 years of consolidation.
What makes this breakout more interesting is the strong buying momentum along with improving volume and weekly RSI above 70. If price sustains above the neckline then I am expecting a strong continuation towards 1000+ initially. This breakout has the potential to begin a much bigger bullish phase.
What makes this breakout more interesting is the strong buying momentum along with improving volume and weekly RSI above 70. If price sustains above the neckline then I am expecting a strong continuation towards 1000+ initially. This breakout has the potential to begin a much bigger bullish phase.
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