ONGC Witnesses a Multiyear Breakout - What's Next?

19 Jul

• When analyzing the monthly chart, it's clear that the stock price has experienced numerous fluctuations.
  
• In June '14, the stock reached a high near 315 level before taking a sharp downturn.
  
• By March 2020, the stock price had plummeted to just 50 INR.
  
• However, from that point, the stock began a strong upward movement with significant volume increase.
  
• An ascending triangle pattern appeared on the chart, and the price successfully broke through the pattern to continue its upward trend.
  
• Ultimately, the stock managed to surpass its previous resistance.
  
• As long as it maintains above the 300 level, the price is likely to continue its upward trajectory.