Macro Structure: The stock is trading within a beautifully defined ascending parallel channel, showcasing a robust, long-term structural uptrend defined by consistent higher highs and higher lows.
Recovery Phase: After a sharp correction down to the channel's lower boundary support zone (around the 7,500–8,000 levels) earlier in the timeline, the stock initiated a steady and persistent recovery, strictly respecting the channel's upward slope.
Recent Momentum: The most recent weekly candles exhibit a powerful bullish impulse, successfully breaking past intermediate consolidation zones with strong expansion.
Key Resistance & Support:
Overhead Resistance: Currently trading at 11,662, the price is immediately testing the horizontal resistance marked at 11,869. If the bullish momentum sustains and decisively clears this zone, the next major upside target aligns with the upper channel boundary at 12,769.
Downside Support: Should the price face rejection at current levels, immediate support rests at 11,361, followed by lower structural safety nets at 10,968 and 10,727.
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Recovery Phase: After a sharp correction down to the channel's lower boundary support zone (around the 7,500–8,000 levels) earlier in the timeline, the stock initiated a steady and persistent recovery, strictly respecting the channel's upward slope.
Recent Momentum: The most recent weekly candles exhibit a powerful bullish impulse, successfully breaking past intermediate consolidation zones with strong expansion.
Key Resistance & Support:
Overhead Resistance: Currently trading at 11,662, the price is immediately testing the horizontal resistance marked at 11,869. If the bullish momentum sustains and decisively clears this zone, the next major upside target aligns with the upper channel boundary at 12,769.
Downside Support: Should the price face rejection at current levels, immediate support rests at 11,361, followed by lower structural safety nets at 10,968 and 10,727.
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Trade active
perfectly riding the channelTrade closed: target reached
Closed above 11869if holds on EOD CB then we see more bullish movement.
Note
12300+ ----- rocket
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.