52 week highs and all time highs strategy

HBL Power chart update.

1. Daily chart attached shows a breakout from a triangular consolidation that took place between 376 to 612 from Dec 2023 to July 2024.

2. Post this breakout, stock went on to hit a fresh ATH of 724.

3. Stock again went into corrective phase and went down and tested the 10 WEMA at around 590-600, which also happened to be the region of previous ATH of 612.

4. Going forward I have tried to plot a rising channel to see if the stock price follows this channel. We same some similar channeled moves in Shaily, Wockhardt etc and examples of such channeled moves were posted by @dhruvpatel

Disc: invested. not a recommendation to buy/sell.