A Massive Rally Could Begin Above This Resistance

Optiemus Infracom is showing a powerful bullish reversal on the weekly chart and the overall structure suggests that something big could be coming. After spending several months under a falling trendline resistance the stock finally managed to break out and started building strong upward momentum. What makes this setup even more interesting is the recovery from the major support zone around 280–300 where buyers stepped in aggressively and completely changed the direction. Since then the stock has rallied sharply and is now approaching the crucial 870–890 resistance zone which previously rejected the price near its major highs. This resistance has already attracted sellers multiple times but the latest recovery shows that buyers are becoming increasingly aggressive. The recent volume expansion also indicates strong market participation while the weekly RSI near 67 suggests that bullish momentum is gaining strength. Now the most important thing to watch is a decisive weekly breakout above 890. This is a major supply zone where sellers have previously defended their positions and a successful breakout can completely change the long-term structure. Once price starts sustaining above this resistance the stock could enter a fresh price discovery phase with 1000–1100 becoming the next potential upside zone. There is likely to be significant liquidity sitting above the previous highs and a breakout can trigger fresh buying along with short covering. Another interesting observation is that the stock has already completed its falling trendline breakout and is now challenging the final major horizontal resistance. This means the bigger reversal structure is already developing and only one important breakout is left to confirm the next expansion phase. I am strongly bullish on Optiemus Infracom and believe a sustained breakout above 890 could open the door for a much bigger rally towards 1100+.