IGL breaks 2.6-year resistance—bullish momentum building

15 Agu

✅ The stock has recently broken above a 2.6-year-old resistance level, which had been a major hurdle since early 2021. This breakout indicates the potential for a significant upward move if the stock sustains above this level.

✅ The 8-year-old strong support trendline has been a critical foundation for the stock, consistently providing a base for upward movements. The recent bounce from this trendline further reinforces the long-term bullish trend.

✅ The stock also shows a potential double bottom pattern which is a bullish reversal signal. This pattern adds further confidence in the breakout and the potential for more upside.

✅ The RSI is currently at 68, approaching overbought territory. A continued move higher in the RSI would confirm strong bullish momentum, supporting further gains in the stock.