Turning Bullish: IRCON International
IRCON International has been in a downtrend since Aug 2024.
It was sliding in a parallel channel pattern.
However, it broke the channel pattern and gave a strong breakout with excellent volume.
IRCON is trading near the strong support zone of 220 levels.
It took support around 20 EMA (Black line) and showing some strength.
However, 20 EMA (Black line) has to decisively cross 50 EMA (Orange line) to confirm the bullish trend in weekly closing.
Technically, the downside risk is limited.
RSI is also showing some strength.
Resistance levels: 220, 267, 300, 350
It was sliding in a parallel channel pattern.
However, it broke the channel pattern and gave a strong breakout with excellent volume.
IRCON is trading near the strong support zone of 220 levels.
It took support around 20 EMA (Black line) and showing some strength.
However, 20 EMA (Black line) has to decisively cross 50 EMA (Orange line) to confirm the bullish trend in weekly closing.
Technically, the downside risk is limited.
RSI is also showing some strength.
Resistance levels: 220, 267, 300, 350
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