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SUBROS – IMPORTANT PRICE ACTION IS GOING ON NOW – IS IT FOR BREAKOUT ?????

SUBROS

 

As per the price chart we can see that stock price above to move above long term resistnace level now, but still its waiting for confirmation.

stock was in falling zone from past 2 years and now its looking like its about to change the trend only if its confirm by price action.

after a recent bottom price able to give good up move which possible lead for upcoming breakout.

look at the rsi, even rsi also able to move above resistance level, after coming from oversold zone.

now price is trading near recent high level, and rsi is still having more scope to move in overbought zone again with the proper price action on chart.

so with the above basic study we can assume that if price able to move above 28.5 and 29.5 levels then one buy small on each level on closing basis with the support or sl at 21 on closing basis, upper side we can see target till 38-45-55.

further chart development is also need to watch.

 

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