RK FORGINGS - A PERFECT BULLISH SETUP

RK FORGINGS
CMP 850
Stop 720
Target 1200 plus
Monthly chart
1) Stock has completed a W pattern breakout last month with above average volumes. Rising leg of the W pattern has seen significant increase in volumes.
2) Stock has been consolidating this month as seen from low volumes and low volatility.
3) W pattern breakout accompanied with spike in RS above its MA and also other oscillator parameters in line (MACD etc.).