was in a severe downtrend from December to May falling from the 1400 levels down to a low of around 920. However the structure has recently shifted from bearish to highly bullish. After dropping the stock spent months March to June building a solid base. In early July it delivered a massive breakout surging past the strong 1080-1100 resistance zone. The most bullish sign on this chart is the volume. The July breakout is supported by giant green volume bars. This heavy buying volume confirms that the breakout is strong and likely driven by institutional interest. The stock is currently trading near 1240. Instead of facing profit-booking after such a huge rally it is consolidating and holding its gains well. This sideways movement at higher levels shows sustained strength. Support the immediate short-term support sits around 1160-1200. If it drops further the major historical support is now at the 1080-1100 breakout level. Resistance the immediate hurdle is the recent swing high near 1280. If it crosses 1280 with good volume the next major targets are the 1360-1400 levels.

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