Polycab has demonstrated exceptional strength, achieving a new All-Time High (ATH) today. The stock decisively broke out of a significant long-term horizontal resistance level, a move that was confirmed by a healthy surge in trading volume.
This breakout is the latest milestone in a powerful rally that began from a Double-Bottom pattern in April 2025. Since that point, the stock has surged over 65% to date.
Broad-Based Bullish Confirmation 👍
The bullish momentum is confirmed across multiple indicators and timeframes:
- Sustained Volume: Trading volume has remained consistently around the average in the recent past, indicating steady accumulation and persistent buyer interest.
- Daily Momentum: On the daily chart, both the short-term Exponential Moving Averages (EMAs) and the Relative Strength Index (RSI) are in a strong bullish crossover state.
- Weekly Strength: This positive sentiment is echoed on the weekly timeframe, where the EMAs and RSI also confirm a powerful bullish momentum, suggesting strength on a larger scale.
Outlook: Monitoring for Confirmation
Overall, Polycab is in a clear and powerful bullish trend. A common post-breakout behavior could involve the stock retesting the previous resistance level as new support.
The price action in the coming days will be crucial to watch. A successful retest would confirm the breakout's strength and suggest a continuation of the upward trend. Therefore, observing this near-term price action is vital before making any further decisions.
This breakout is the latest milestone in a powerful rally that began from a Double-Bottom pattern in April 2025. Since that point, the stock has surged over 65% to date.
Broad-Based Bullish Confirmation 👍
The bullish momentum is confirmed across multiple indicators and timeframes:
- Sustained Volume: Trading volume has remained consistently around the average in the recent past, indicating steady accumulation and persistent buyer interest.
- Daily Momentum: On the daily chart, both the short-term Exponential Moving Averages (EMAs) and the Relative Strength Index (RSI) are in a strong bullish crossover state.
- Weekly Strength: This positive sentiment is echoed on the weekly timeframe, where the EMAs and RSI also confirm a powerful bullish momentum, suggesting strength on a larger scale.
Outlook: Monitoring for Confirmation
Overall, Polycab is in a clear and powerful bullish trend. A common post-breakout behavior could involve the stock retesting the previous resistance level as new support.
The price action in the coming days will be crucial to watch. A successful retest would confirm the breakout's strength and suggest a continuation of the upward trend. Therefore, observing this near-term price action is vital before making any further decisions.
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.