MFSL - IS IT READY FOR BREAKOUT ?

21 sept

MFSL reached the same price level of Aug 2021 ( WEEKLY chart )
So is this stock ready for a breakout within next 1 week ?

Lets analyze the stock in VCP perspective

The Volatility Contraction Pattern (VCP) is a technical chart pattern often used in share trading to identify stocks that are preparing for a breakout.

MFSL developed an upward move from 04 June 2024 and maintained a steady upward movement .

A VCP is developing in 75 minutes - but 75 minute VCPs are not powerful - so we cannot expect strong breakouts.
Also 3rd VCP is almost same as 2nd VCP ( means no major Volatility contraction )

There is no VCP development in Daily time Frame ( Higher time frames )

Chart shown in 75 minutes time frame ( left side ) and Daily Time frame on right side .
Lets observe the stock for next 1-2 weeks and see how it performs

This is not a buy sell recommendation - only for study purpose .