Is Eimco Elecon(I) technically bullish or bearish?

Jun 24 2025 08:10 AM IST
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As of June 23, 2025, the technical trend is mildly bearish, supported by bearish RSI readings and mixed MACD signals, despite some bullish tendencies in Bollinger Bands and underlying strength indicated by OBV.
As of 23 June 2025, the technical trend has changed from sideways to mildly bearish. The current stance is mildly bearish with key indicators supporting this view. The MACD is bullish on the weekly chart but mildly bearish on the monthly, indicating mixed signals. The RSI is bearish on both weekly and monthly time frames, reinforcing the bearish sentiment. Daily moving averages are also mildly bearish. While Bollinger Bands show bullish tendencies on the weekly and mildly bullish on the monthly, the overall trend remains cautious. Dow Theory indicates no trend on the weekly but mildly bullish on the monthly, and OBV is bullish on the monthly, suggesting some underlying strength. However, the prevailing indicators point towards a mildly bearish outlook.
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