is currently trading at 923.70. After experiencing a massive uptrend that peaked near the 1150-1200 zone the stock went through a prolonged phase of correction and sideways consolidation. Recently the chart shows a sharp and positive recovery from its lower levels.
Major Support there is a very strong historical support base around the 735 - 750 zone. The stock recently took support right at this level near 738 and bounced back sharply indicating strong buying interest at lower prices. Immediate Support for short-term movements the 850 level acts as immediate support. Resistance the first major hurdle the stock faces is the psychological 1000 mark. If it successfully breaks and sustains above this level the next targets will be the previous swing highs around 1100 to 1150.
For short-term buyers the current levels offer a good swing entry targeting the immediate resistance of 1000, provided a strict stop-loss is maintained below 850 to manage risk. Existing holders should confidently hold their positions since the stock has bounced from a major demand zone keeping a deeper definitive stop-loss below the strong 735 base. Moving forward keep an eye out for a high-volume breakout above the 1000 mark as that will confirm the next major upward move toward 1150.
Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.