Stock has shown an excellent reversal from its rising trendline and 200 EMA support near 390. Buyers have defended this zone strongly and the latest recovery suggests fresh accumulation. Fundamentals are equally impressive with strong sales growth and significant improvement in earnings over recent quarters.I am expecting a move towards the major resistance near 510 first. Once this zone breaks with proper price acceptance the stock can enter a strong expansion phase towards 600–640+. The liquidity zone above previous highs makes this setup even more interesting.
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