The stock saw some profit taking after reaching a record high of 4597.It corrected by 35% following a surge of 161%, and entered into a potential accumulation phase.
During this phase, higher lows formed along with price depth and time correction as the lateral trend progressed.
This suggests that committed investors continue to hold their positions, and the stock saw further absorption of available supply at elevated levels, indicating a strengthening price trend.
Additionally, the price action showed a bullish breakout from the rounding bottom, with the lower pivot of the corrective leg acting as resistance.
The RSI across daily and higher time frames is trading well above their median without showing any divergence against the price, indicating momentum in the price.
We suggest buying Amber Enterprise in the range of 4262-4220 for the target of 4890 with a protective stop at 3966.