A bullish bump and run reversal is a typical shape of a sliding pan and then the price forms a round and gives a breakout above the sliding resistance trend line with volumes spurting in the direction of the trend.
Just Dial too has formed a similar pattern on hourly charts although the stock has not given a breakout above the trend line yet but has given indications of a breakout .
- Stock price has taken support on its trend line.
- Moving Average of 200 EMA and SMA also providing a price support.
- Horizontal trend line support.
- Indicators on different time horizons giving a buy signal
- Leading indicators like RSI is in oversold zone.
- And open interest build up in the direction of the trend for the last two days is a confirming tool for the same.
Here is the snapshot:
