Technical analysis -
1. Stock is in a continuous up trend
2. Crossed the pre covid highs (2100) in Feb 2021
3. Stock made a rounding bottom formation after crossing pre covid highs, which denotes continuation of uptrend
4. New high 3060 came post rounding bottom formation breakout
Trade -
1. Stock is in retracement mode
2. Rounding bottom breakout becomes the next buying range, 2520-2420
3. Short term traders can go long in the buying range for a target of the previous high (3060), which is around 25% gain from this buying range
4. Short term traders can use closing below pre covid highs (2100) as a SL
1. Stock is in a continuous up trend
2. Crossed the pre covid highs (2100) in Feb 2021
3. Stock made a rounding bottom formation after crossing pre covid highs, which denotes continuation of uptrend
4. New high 3060 came post rounding bottom formation breakout
Trade -
1. Stock is in retracement mode
2. Rounding bottom breakout becomes the next buying range, 2520-2420
3. Short term traders can go long in the buying range for a target of the previous high (3060), which is around 25% gain from this buying range
4. Short term traders can use closing below pre covid highs (2100) as a SL