SOTL: Third base breaking out in a clean Stage 2 uptrend

Wait 5 sec.

SOTL: Third base breaking out in a clean Stage 2 uptrendSavita Oil Technologies LimitedNSE:SOTLVishwajeeth_JKThis one is one of the cleanest structures on my screen right now. Stock was drifting lower from December through April. Nothing dramatic, just a slow Stage 4 grind with the averages sloping down and price making lower lows into the April bottom. Turn came in late April. Price got back above the short term average and then pushed straight through the long term average in early May on a volume spike. That was the Stage 4 to Stage 2 handover. After that it has been the same pattern three times over. First base in May, tight and short, right on top of the long term average. Broke out at the start of June with the biggest volume bar on the chart. Second base through June and July, much wider, price chopping around while the rising average caught up from underneath. Broke out in early August, again on volume. Third base through August, price holding above the same rising average, tightening up. Now it is pushing out of that range with another big volume bar at the start of September. Three bases, three breakouts, each one higher than the last, and every consolidation held the short term average. That is what a healthy Stage 2 looks like. Nothing vertical, nothing forced, just pause and continue. I am tracking this for the third base resolution. Structure stays valid as long as price holds the base low. If it closes back inside the August range, the move is damaged and I step aside. Not a recommendation, just sharing what I am watching.