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Sonata Software: Another Wyckoff Re-accumulation Candidate

NSE:SONATSOFTW   SONATA SOFTWARE
Price has been in a major trading-range aka re-accumulation (that is the hypothesis) in this case. Volume signature is supportive of accumulation. Let's wait and watch this one.
Comment: The breakout has happened and the original hypothesis of a Wyckoff Re accumulation has been confirmed by the subsequent price action. Notice the drop in volume when price gets into a correction. A classic tennis ball kind of action, as described by Mark Minervini. Am holding this stock and would add more on fresh buy signal.
The earlier view about price being in a re-accumulation phase is still valid. Have a look at the updated chart featured below.



Price has edged above the upper end of the trading range, backed with increased volumes. We just need a little bit of follow through to indicate that a Wyckoff mark-up phase is underway. Watch this stock.
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The price still seems to be in the trading range or likely accumulation zone. Looks like a test of the lower end of the range is on the cards. What price does near the lower end will indicate if this zone is a accumulation or distribution. Looking at the volume signature, I still lean towards accumulation.
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