On the verge of a Breakout of VCP Pattern off 200 days EMA

IOL CP fell below it's 200 days EMA and found support in the demand zone.. Currently, the stock is on the verge of a breakout of a VCP pattern that is coming off it's 200 days EMA. Generally, a breakout that is off the 200 days moving average is expected to be explosive and with quarter results due on 4th June, could also be expected to play a role in the rally.

Yorum:

Stock broke above the Trendline and has put up a solid bar, on a very healthy volume. The Price Volume action is pretty impressive.