EIL continues its upmove after breakout mentioned in above post. The next crucial resistance mentioned in the post of 120-21 proved to be a hurdle for a few trading sessions and stock price broke out and closed above this resistance zone yesterday. Today it closed at 127. Putting up a monthly line chart with resistances marked in dotted red lines.
Stock price is bound within a rectangular multi year range and that is clearly marked in chart . First breakout above 88-90 marked a breakout from lower end of the above range and now second breakout has happened. How far this goes up needs to be monitored. Upper end of range is at 190-195 and Wolfe Wave target marked on chart is at 290. disc: I remain invested as disclosed before.
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