CAMS broke horizontal trendline

“Computer Age Management Services Ltd (CAMS) is showing signs of a potential breakout, characterized by a horizontal trendline pattern observed on the daily scale. Volume indicators on Wednesday surpassed the 50-day average, indicating accumulation preceding the anticipated breakout. Moreover, the stock is presently trading above both its short and long-term moving averages.
On February 8, 2024, CAMS reached a peak of 3,024.95 before experiencing a minor retracement. Notably, throughout this retracement phase, trading volumes mostly remained below average. The stock notably found robust support within the range of Rs 2,760-2,770, aligning with the 50-day Exponential Moving Average (EMA) zone.”