Subex is showing exceptional strength after spending almost five years under a major descending trendline that started in July 2021. The stock has finally reached a crucial breakout zone around 20–22 and is attempting to break out of its long-term bearish structure. What makes this setup particularly interesting is the sharp recovery from its recent lows accompanied by a massive increase in trading volume. Weekly RSI has climbed to 75 which shows how aggressively momentum has shifted towards buyers. A confirmed breakout above this multiyear trendline could mark the beginning of a completely new bullish cycle.
If Subex sustains above 21–22 on the weekly chart, the next major resistance is around 42–43 which offers approximately 91% upside from the current level. This zone has acted as major resistance multiple times in the past and could attract significant buying interest if momentum continues. The marked stop-loss zone around 16–17 will be important for protecting the breakout structure. A successful retest of the broken trendline would further strengthen the setup and could attract traders who missed the initial rally. After five years of declining prices, this breakout has the potential to completely transform the stock’s long-term trend.
If Subex sustains above 21–22 on the weekly chart, the next major resistance is around 42–43 which offers approximately 91% upside from the current level. This zone has acted as major resistance multiple times in the past and could attract significant buying interest if momentum continues. The marked stop-loss zone around 16–17 will be important for protecting the breakout structure. A successful retest of the broken trendline would further strengthen the setup and could attract traders who missed the initial rally. After five years of declining prices, this breakout has the potential to completely transform the stock’s long-term trend.
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