CUB Getting Ready For A Long Bull Run:- Read Detailed Analysis

22 Okt

✅The stock has broken out of a descending trendline that has been in place for nearly two years. This breakout marks a significant reversal in the trend indicating that the stock may now be entering a bullish phase. The breakout above the 170 level suggests that the stock is ready for a strong upward movement. A strong breakout has been confirmed by a noticeable increase in volume which is key for validating the strength of the move. The rise in volume suggests institutional buying which usually signals the start of a longer-term rally.

✅ The stock has been trading above the 200 EMA which has acted as a support level throughout its consolidation phase. The EMA crossover indicates a continuation of bullish momentum and the breakout above this level adds further confidence to the rally. The RSI is currently at 57 showing a bullish divergence where the price has been making lower highs while the RSI has been trending upwards. This indicates that momentum is building in favor of the bulls supporting the possibility of higher prices in the near term.

✅The stock is poised to move towards the 190 level which is the next significant resistance zone. If the stock manages to break above this level, the next target would be 200 representing a 15% upside from the current price. These targets align with the height of the descending triangle pattern, giving a clear projection for the stock’s potential move. The 152 level now acts as a strong support after the breakout and any pullbacks to this zone could provide an opportunity for fresh entries. If the stock remains above this support level the bullish momentum is likely to continue.