$SWSOLAR - Chart Analysis

The stock has shown a notable recovery after finding support near the 160–170 zone and is now attempting to regain bullish momentum. A strong breakout candle with higher volumes (if sustained) has pushed the price above the short-term moving averages and towards the 200-DMA, indicating improving sentiment. The RSI has climbed close to the 70 mark, reflecting strengthening momentum, although it is also approaching the overbought zone. The immediate hurdle lies around 240–245, where the stock is testing the 200-DMA and the upper Bollinger Band. A decisive close above this zone could trigger fresh buying interest and open the path towards 260, followed by 285. However, failure to sustain above 240 may lead to profit booking or a short-term consolidation. On the downside, the 220–228 zone now acts as the first support, followed by 195–200, which coincides with the cluster of short-term moving averages. Holding above these levels will be crucial to maintain the improving technical structure. Overall, the short-term outlook has turned cautiously bullish after the recent breakout, but confirmation will come only if the stock sustains above the 240–245 resistance zone. Until then, traders may adopt a buy-on-dips approach while maintaining strict stop losses below key support levels.