JPASSOCIAT has broken out from a falling wedge with good volumes. Falling wedges are typically bullish in nature and this wedge has been in formation since more than an year now. Longer the timeframe, larger the moves.
There might be pullbacks but if we go by classic TA the size of this move that has started post breakout could take the stock around 20 (it’s currently trading at 11.75). As per classic TA, we measure the height of the pattern.
Disclaimer: Purpose of this post is to educate on technical analysis methodologies and not giving trading/investing advice.
