Confluence of a channel breakout, volume point and 200-day EMA

For a year, price trended lower within a well-defined descending parallel channel. In mid-April 2025, the stock shook out below the channel support but quickly recovered, signalling a false breakdown and accumulation. By late May, price decisively broke above the upper boundary of the channel and compressed into an ascending triangle. The 200-day EMA provided dynamic support and multiple pullbacks at or slightly above this EMA, confirming it as a reliable demand zone. The breakout leg coincided with above-average volume validating the move and suggesting follow up buying.

The long positions with proper risk controls, keeping a stop loss just below 200 EMA.

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