This has been a very stretched uptrend without a long base or a long pullback. It has pulled back only to the weekly 9 EMA, not even to the weekly 21 or the 50. Generally, even in 2020, a pullback to the 50 or 21 was healthier for sustaining an uptrend. I don't have much confidence buying this breakout after such a long uptrend without a decent base or consolidation, especially because breadth is considerably low.
Source: No trade | 23 Feb 2026