MPHASIS — Cloud breakout fails within weeks of forming

closed at 2295.00, higher by 3.30 or 0.14%. Tenkan is at 2398.20, Kijun at 2415.10, Span A at 2406.60 and Span B at 2356.70. Price sits below the cloud, which runs from 2356.70 to 2406.60. The stock spent February through May below the cloud, built a base between 2100 and 2350 from June onward, pushed up to 2530 in late August, and has now dropped back through the cloud entirely. The sequence is worth noting. A move above the cloud that fails within a few weeks carries a different weight from one that holds, and this attempt has not held. Mphasis derives a large portion of revenue from banking and financial services clients, which makes it sensitive to the spending cycle in that vertical. 2406.60 is the level to reclaim. 2270 is where the June to July base sat.