UPL had a great run of 260% from COVID lows to recent All Time Highs. Now the stock has taken a breather and consolidating in a bull flag . It looks like its gonna take some more time to consolidate in the channel before giving another breakout. I see the stock is bearish short term and might just test the lower end of the channel and bounce to the upper side of the channel. UPL might retest the support levels marked on the chart 674, 635 and 621. Strong support at 621 , long term buyers can start accumulating at small positions from 635 and 621 levels.
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UPL hitting upper end of the resistance channel. Let's see if it can breakout of the channel. Otherwise it might just consolidate within the same channel for some more time.
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UPL had a channel break out. Might test 720+ levels for break out confirmation
Trade stängt: målet nått:
Target 674, 635 and 621 on 24 Feb. As predicted 621 was a strong support, UPL jumped back to test the channel upper line.