The stock is having good momentum and currently trading above 5, 25. 50, 200 EMA. One can see the recent cross over at 341. The RSI has not yet touched over bought limit.
As per Point n Figure charts the stock has strong support at 320 where it has made a triple extended bottoms ( See three O’s).
Currently the stock is in X column which shows that there are more buyers than sellers. It has also given a buy signal at 380 where the X column exceeded the two X’s at 370. Previously the stock met resistance repeatedly 4 times ( See quadruple top at 370) which it has now broken. The stock is above the bullish support line marked in blue. All this bodes well for the stock and it looks a strong stock. The next target will be 400-10 and then 440. If it manages to break this a new high will be created.
Await your feed back as well as from other technical experts.
There is a book available on Point and Figures which i shared with a lot of guys on this site. If you want a copy do give me your email id and i will send it to you. For the past six months i am studying and implementing the learning from this book. I have benefited immensely and improved my timings of entry and exit and reaped good profits. Still continuing my studies on lot of other things mentioned in the book. I maintain a lot of charts manually and also the bullish percent which the book speaks about. Will write in the thread I initiated on this site.
Thank you for showing so much interest in the book. It changed my thinking and understanding of Technical Analysis. I have sent the book to you Ramesh/Manish
for your lucid technical analysis. Your Point and Figure chart made it easy.