The stock looks very bullish on both the daily and weekly charts.
First let's see the price structure in the daily chart: It moved between the dashed line and the red line, forming higher highs and higher lows, and showing good respect to the 50-day SMA. Recently it moved strongly upward, breaking the red line then a setback to test that broken line. Entry at current levels is advised with stop loss below 51.00 and target not less than 60.00
Weekly chart confirms the same scenario: the stock is moving upward strongly after successfully completing a pennant pattern which helped the stock to go beyond its previous high at 52.00. The target of that structure is around 60.00
Buy!
First let's see the price structure in the daily chart: It moved between the dashed line and the red line, forming higher highs and higher lows, and showing good respect to the 50-day SMA. Recently it moved strongly upward, breaking the red line then a setback to test that broken line. Entry at current levels is advised with stop loss below 51.00 and target not less than 60.00
Weekly chart confirms the same scenario: the stock is moving upward strongly after successfully completing a pennant pattern which helped the stock to go beyond its previous high at 52.00. The target of that structure is around 60.00
Buy!