SRF creates flag above the broken resistance zone

  • The stock is sitting just on top of a breached consolidation range and also moving within a bullish flag pattern
  • In the weekly chart, the price breached all time highest high and headed towards the North.
  • The stock chart points to the support level at 2540. The loss of previous resistance level at 3090 will open the door to the search for new relative highs.

  • The stock has an evidence of a Bollinger Band expansion which indicates that a fresh rally in the cards
  • The positive technical picture and the expanding volatility in the Bollinger Band mean that bullish dominance will last longer.