Key Observations: 1. Trendline Support: The stock is rebounding from a major trendline support, which also aligns with the support of an upward channel pattern.
2. Volume Activity: There is notable volume action, with current trading volumes being 4-5 times higher than typical daily volumes, indicating strong buying interest.
3. Relative Strength Index (RSI): The RSI is approaching its upper boundary/resistance while the stock price continues to perform well with high volumes.
4. 50-Day Exponential Moving Average (EMA): The stock has decisively bounced off its major support at the 50EMA.
Entry point : An entry point around 140 offers a favorable risk-reward ratio.
Targets:
Target 1: 150, which is the next resistance level. Target 2: 160, near the all-time high (ATH) zone.