On weekly charts, the prices are trading near the lower end of a long term trendline support. In last one year, prices have formed a complex corrective pattern and the wave counts indicate end of a corrective leg near the recent lows. Prices in last few days have been consolidating in a narrow range and breakout from the consolidation zone could lead to sharp pullback. Looking at above evidences, we believe the stock could move higher and retrace the recent corrective leg.
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