It is a breakout stock. Simply put, it means that traders are ready to pay a higher price since they see value at present and also in future. Now after the good run-up 166 is a strong resistance followed 171. Hence holding above 166 is necessary to see 171.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.