The stock is trading within a long-term upward sloping channel, indicating a sustained uptrend. It recently bounced off the support level of 648.75, which aligns with the lower boundary of the channel, showing strong demand at this level. Additionally, the stock has broken out of a falling wedge pattern, typically signaling a bullish reversal.
Key technicals:
A sustained move above 720 will confirm strength, while 648 remains an important support zone. Overall, the trend remains bullish, and traders should watch for further confirmation through volume and momentum indicators.
Key technicals:
- The price is above the 50, 100, and 200-week moving averages, suggesting a positive long-term trend.
- RSI is neutral at around 50, with a slight upward tilt, indicating potential for further upside momentum.
- Resistance: The stock faces a key resistance around 720, a breakout above which could lead to a test of the 760-780 levels.
A sustained move above 720 will confirm strength, while 648 remains an important support zone. Overall, the trend remains bullish, and traders should watch for further confirmation through volume and momentum indicators.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.