The stock has retaken its 200-DMA with above average volume. It has formed a big bullish candle with a higher-high and higher-low price structure on the daily chart.
The stock has corrected around 38% after hitting its recent high on July 26. After hitting the low at 577 on August 23, the stock reversed its trend and started soaring higher from that level.
The momentum indicator RSI is trending higher with a positive slope and momentum is improving further with a positive MACD crossover.
Disclaimer: Today, we have already recommended this stock as part of the SWTI portfolio.
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