MGL
CMP 974
Well in this kind of price -movement , we resort to EW.
While it is giving all signals of upside, but EW makes us sceptical as recent rise seems to be corrective ( no impulse is visible)
Many a times stocks keep moving up even in corrective waves ( though we stay away from them) . In this case, keep a watch on yellow lines, these may act as resistance.
Weekly Chart
Disclaimer :This post is just a for learning few methods of price-patterns. Views are personal and are purely based on our limited knowledge of charts. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors
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