The stock has finally broken the major falling resistance that had been controlling price since the 2024 highs. What makes this structure more interesting is the rising support underneath. Every major correction since 2023 has formed at a higher level which shows buyers have been accumulating the stock gradually. Price kept getting compressed between rising support and falling resistance and now that compression has finally resolved on the upside.
The breakout above the 135–140 zone is the important shift here. Price is already trading around 143 with momentum improving and RSI also showing strength. If the stock sustains above this breakout zone and turns it into support the old sellers around these levels can get trapped while fresh buying enters. Liquidity is now sitting above the previous highs and this breakout can open the door for a much bigger expansion towards 160 and beyond.
The breakout above the 135–140 zone is the important shift here. Price is already trading around 143 with momentum improving and RSI also showing strength. If the stock sustains above this breakout zone and turns it into support the old sellers around these levels can get trapped while fresh buying enters. Liquidity is now sitting above the previous highs and this breakout can open the door for a much bigger expansion towards 160 and beyond.
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