trend line work support and resistance finally breakout
1) weak chart analysis
2) chart following trend line from 2011 to 2023
3) Trend lines work as support and resistance.
4) December 2009 and July 2011 trend lines work as support
5) 2011 February to July may time work as support and finally break down.
6) this same trend line worked as resistance in august 2014, January 2018 and April 2022
7) August 2014: breakout of this resistance trend line but no sustained upside.
8) Finally, break down bottom level 7 (resistance at 35 and fall down from 40)
9) From bottom level 7 to resistance level 63, it takes 2 years (771% return).
10) from resistance comes down at 9 level
11) may 2022 attempt for break level but not possible that time
12) now this line is breaking out and moving new life time high
13) take 200 as stop loss and get 300-350 first target
no recommendation for buy and sell
2) chart following trend line from 2011 to 2023
3) Trend lines work as support and resistance.
4) December 2009 and July 2011 trend lines work as support
5) 2011 February to July may time work as support and finally break down.
6) this same trend line worked as resistance in august 2014, January 2018 and April 2022
7) August 2014: breakout of this resistance trend line but no sustained upside.
8) Finally, break down bottom level 7 (resistance at 35 and fall down from 40)
9) From bottom level 7 to resistance level 63, it takes 2 years (771% return).
10) from resistance comes down at 9 level
11) may 2022 attempt for break level but not possible that time
12) now this line is breaking out and moving new life time high
13) take 200 as stop loss and get 300-350 first target
no recommendation for buy and sell