QUALITY POWERThis stock forming a **rounded bottom pattern** with a **bullish breakout**, which can be favorable for a long trade.
---*Technical Analysis**
1. **Rounded Bottom Formation (Cup Shape)**
* The price action shows a smooth transition from a downtrend to an uptrend.
* This is a classic **reversal pattern** signaling a shift from bearish to bullish sentiment.
2. **Breakout Confirmation**
* The last few candles show strong bullish momentum breaking above the recent resistance level (horizontal line).
* This breakout is accompanied by a significant **spike in volume**, validating the move.
3. **Moving Average (Blue Line)**
* Price is consistently trading **above the moving average**, which is sloping upward – a bullish sign.
this is a **20-day moving average**, often used to gauge short- to mid-term trends.
4. **Volume Analysis**
* **Accumulation** is evident in the rising green volume bars leading up to the breakout.
* Strong breakout candle with the **highest volume** in the visible chart — this adds conviction
### 📈 **Trade Setup (Long Bias)**
* **Entry**: On close above the breakout candle or slight pullback to the breakout level (prior resistance acting as support) 400-410
* **Stop Loss**: Just below the breakout level or below the moving average
### ⚠️ Risk
* Avoid chasing the price after a large breakout (above 410) candle unless a retest occurs.
ENTRY 400-410
SL FOR POSITINAL 360
FIRST TARGET -520
RISK REWARD -1:2.2
