CONSOLIDATION OVER?
This is Weekly Timeframe.
AB Capital was in consolidation form March 2021.
While consolidating it had took 3 time major support.
The very 1st time it came near previous resistance acting as support now,
it formed dragonfly doji and gave strong rejection.
The 2nd and 3rd time it came near support,it bounced back with strong volumes and formed double bottom pattern at support
and gave breakout from the channel.
The MFI is near overbought zone.
If it moved up well then the target can be 52 week high which is 139.70.
If as per the market scenario, for a safer exit, I would exit a little below resistance zone which is at 135-139.
This post is for information purpose only.
AB Capital was in consolidation form March 2021.
While consolidating it had took 3 time major support.
The very 1st time it came near previous resistance acting as support now,
it formed dragonfly doji and gave strong rejection.
The 2nd and 3rd time it came near support,it bounced back with strong volumes and formed double bottom pattern at support
and gave breakout from the channel.
The MFI is near overbought zone.
If it moved up well then the target can be 52 week high which is 139.70.
If as per the market scenario, for a safer exit, I would exit a little below resistance zone which is at 135-139.
This post is for information purpose only.
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