Price was in downtrend from September 2022, and started ranging since April 2023.
This range could be an accumulation phase, and today we got the breakout with a strong body candle and good volume.
Also, check the Bullish RSI divergence which gives more strength to the breakout.
My only concern is the 200 Daily Moving Average sitting just above the price.
I expect a small rejection from there. Once price closes above 200DMA, then we can expect beginning of a new uptrend.
This could be a midterm investment .
Keep a close eye on this stock.
This range could be an accumulation phase, and today we got the breakout with a strong body candle and good volume.
Also, check the Bullish RSI divergence which gives more strength to the breakout.
My only concern is the 200 Daily Moving Average sitting just above the price.
I expect a small rejection from there. Once price closes above 200DMA, then we can expect beginning of a new uptrend.
This could be a midterm investment .
Keep a close eye on this stock.