Go Long above 107.2 for Targets of 112.9, 118.6, and 124.3 with SL 101.5
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Harami (marked with orange color) is formed around 0.5 Fibonacci level.
3. In addition to this, there is a strong trendline (marked with green color), which is providing support to the stock.
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Harami (marked with orange color) is formed around 0.5 Fibonacci level.
3. In addition to this, there is a strong trendline (marked with green color), which is providing support to the stock.