Weekend chart with 19% upside potential.

Zensar Technologie (ZENSARTECH)

After witnessing a quick up-move since June, the stock was consolidating where we saw it hovering in a range for 8 weeks. This week, it has given a decisive breakout from that range. (see weekly chart 2.1 below)

2.1 Range breakout.

If we look at the bigger picture, the stock has also given a breakout from the inverse head and shoulder pattern. (see weekly chart 2.2 below)

2.2 Inverse head and shoulder breakout.

Both ADX and RSI are suggesting a strong upside momentum (see weekly chart 2.3 below) for the stock in the coming weeks where we can see the price going up as much as 19% before it faces resistance in the 260-270 zone.


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