22-June-2024 : Keeping It Simple with Price Action & Technical Analysis.This stock showed up in my screener, and liked the chart and price action.
Putting out my analysis objectively using
Point & Figure.** I do not own this stock, and my analysis may have mistakes and incorrect. So please DYOR and always use a Stop/Loss..*
Using P & F with a box size of 0.15 on a Daily chart.* The stock has been in a
long term uptrend.* After making a
breakout in Oct'2023 ( shown by the long "X" Anchor column), the stock went into consolidation and
on 21-Jun-2024, we saw creation of a fresh "X" column signalling a "probable" resumption of its uptrend. This
will be confirmed once it does a double top buy around the ORANGE zone immediately above it.
* If it crosses the Orange zone, and remains above the BLUE line, then I am
forecasting an immediate price target of around 16, based on the open Anchor Column count. [ If we see behind, then the last target anchor count has already been met ].
(20min delay)