📈 MedPlus Health Services Ltd. – Symmetrical Triangle Breakout Setup Emerging

MedPlus is showing early breakout signs from a well-defined symmetrical triangle pattern, supported by strong volume and a decisive move above the 30-week SMA. This technical alignment suggests the potential start of a trend continuation phase, provided there’s sustained follow-through. 🔹 Technical Overview Pattern: Symmetrical Triangle (Compression Phase) Breakout Zone: ₹820–₹842 Immediate Resistance: ₹842 (horizontal resistance and upper triangle trendline) Support Zone: ₹795–₹800 (triangle lower boundary and 30 SMA retest area) Volume: Sharp spike this week (highlighted in green) — indicative of institutional participation. RSI: Turning up from below 45, now near 51 — breaking RSI downtrend (green line) and showing bullish momentum shift. OBV: Rising steadily, confirming accumulation. Relative Strength (RS): Starting to move above baseline — potential outperformance signal. 🔹 Interpretation ⚙️ The stock is attempting a symmetrical triangle breakout after months of compression between converging trendlines. ⚙️ Price closing above the 30-week SMA and upper trendline with volume confirmation would strengthen the breakout case. ⚙️ RSI trendline break indicates improving momentum and early entry of buyers. 🟢 View If follow-through buying sustains with volume above 9–10M, the stock may confirm breakout continuation toward ₹880–₹920 in the short-to-medium term. ⚠️ On the downside, failure to hold ₹795 could lead to a retest of the triangle base near ₹760. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)