Is Eimco Elecon(I) technically bullish or bearish?
As of July 4, 2025, the market trend is bullish with strong indicators, although caution is advised due to a bearish weekly RSI and a mildly bearish monthly MACD.
As of 4 July 2025, the technical trend has changed from mildly bullish to bullish. The current stance is bullish with strong indicators supporting this view. The daily moving averages are bullish, and the Bollinger Bands are bullish on both weekly and monthly time frames. However, the weekly MACD is bullish while the monthly MACD is mildly bearish, indicating some divergence in longer-term momentum. The weekly RSI is bearish, which suggests caution, but the overall trend remains positive. The Dow Theory indicates a mildly bullish stance on both weekly and monthly charts. Given the significant price increase from the previous close and strong returns compared to the Sensex, the bullish sentiment is reinforced.
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