Elecon Engineering Company Limited shows strong development within a rising trend channel in the medium long term. Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing.
The stock has broken a resistance level in the short term and given a positive signal for the short-term trading range. The stock > is between support at rupee 390 and resistance at rupee 464. A definitive break through of one of these levels predicts the new direction. Positive volume balance indicates that volume is high on days with rising prices and low on days with falling prices, which strengthens the stock. The RSI curve shows a rising trend, which supports the positive trend. The stock is overall assessed as technically positive for the medium long term.
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