2) Perfect 'v' formation @ important level (which is very very bullish indication)
3) 78.6% fibonacci extension level on WEEKLY timeframe coincides with ATH. As we know, breakout of 76.8% lvl of fib extension considered as continuation of the mail trend.
4) Concern : forming DOJI from last two days.
5) Relief : Even after forming 2 DOJI, momentum of the stock is intact. If it passes this level, it has ability to hold this level, take a breather & move ahead.
6) OI Analysis : People still holding their LONG positions from the recent rally.
7) Options Analysis (for Friday): 81k contracts added @ 340PE & 27k contracts removed @ 350CE (implies bullishness). PCR OI is slightly less 1 (implies indecisiveness) PCR Volume is 0.717 (implies bearishness) Being FRIDAY tomorrow, I dont expect much to happen will definately keep an eagle eye on this stock for my portfolio.
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It will ever close above HIGHEST CLOSE??????????????
I think it is in process of forming HANDLE for this cup. I guess, I saw is incorrectly. Its not V formation, but CUP & HANDLE formation. But CUP and HANDLE generally wont happen in between a trend, C&H is generally a trend reversal chart parttern which occurs at the end of downtrend. Watching closely what it do next!!