ONGC Witnesses a Multiyear Breakout - What's Next?
- When analyzing the monthly chart, it's clear that the stock price has experienced numerous fluctuations.
- In June '14, the stock reached a high near 315 level before taking a sharp downturn.
- By March 2020, the stock price had plummeted to just 50 INR.
- However, from that point, the stock began a strong upward movement with significant volume increase.
- An ascending triangle pattern appeared on the chart, and the price successfully broke through the pattern to continue its upward trend.
- Ultimately, the stock managed to surpass its previous resistance.
- As long as it maintains above the 300 level, the price is likely to continue its upward trajectory.
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