Vaibhav Global - Breaking out of multi-year consolidation!
Stock is on the verge of a 2 year long consolidation break out.
Volume build up in the past few weeks is encouraging and suggests that buying interest is back in the stock
The price has formed a nice base near the 20 WEMA since Aug, 2023. It broke out of this base this week.
The zone from 500 to 530 has acted as a multiple support and resistance zone in the past. A weekly close above this zone will be very positive.
Indicators such as the Mansfeld Relative Strength and Minervini Trend Template are positive and suggest that the stock is in Stage 2 up trend. The runway to the previous ATH is long and provides possibility of decent returns in the coming quarters.
Disclaimer: This is not investment advice. The chart is posted for educational purpose. The reader should consult a certified financial advisor if he/she plans to buy or sell based on this post.
Volume build up in the past few weeks is encouraging and suggests that buying interest is back in the stock
The price has formed a nice base near the 20 WEMA since Aug, 2023. It broke out of this base this week.
The zone from 500 to 530 has acted as a multiple support and resistance zone in the past. A weekly close above this zone will be very positive.
Indicators such as the Mansfeld Relative Strength and Minervini Trend Template are positive and suggest that the stock is in Stage 2 up trend. The runway to the previous ATH is long and provides possibility of decent returns in the coming quarters.
Disclaimer: This is not investment advice. The chart is posted for educational purpose. The reader should consult a certified financial advisor if he/she plans to buy or sell based on this post.
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