GANECOS Approaching Channel Resistance – Bullish Continuation?
The stock is trading within an ascending channel, currently testing the upper resistance line.
The RSI is at 64.56, indicating strong bullish momentum but not yet overbought.
A significant increase in volume supports the potential for a bullish breakout above the channel resistance.
The stock is trading well above its 100 EMA, which aligns with the lower channel line, indicating strong support around ₹918.
Immediate resistance is at ₹1200, the upper boundary of the ascending channel. Support is at the 100 EMA and the lower channel line around ₹918.
Watch for a breakout above ₹1200 with strong volume for a potential bullish continuation. If the resistance holds, look for support around ₹918.
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Join our community in telegram for real time updates --- telegram.me/marketiik
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A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
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A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
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