City Union Bank approaching breakout from falling wedge
✅ The stock has been consolidating within a falling wedge pattern since 2020, with the price now testing the upper trendline around ₹170. A breakout above this long-term resistance could signal a bullish reversal with significant upside potential.
✅ The stock has bounced from the lower support of the wedge near ₹130 multiple times, reinforcing the strength of this long-term support level. The current move towards the upper trendline shows that bullish momentum is building.
✅ The RSI is currently at 60, showing positive momentum. A move above 65 would confirm that bullish strength is taking control, supporting a potential breakout from the wedge pattern.
✅The bank has maintained a healthy balance sheet with improving asset quality, which supports long-term growth. Continued focus on expanding its customer base and digital banking initiatives is likely to drive future growth. PositivThe Indian banking sector is seeing increased credit demand and improving asset quality, both of which provide a favorable backdrop for City Union Bank’s growth prospects.
✅ The stock has bounced from the lower support of the wedge near ₹130 multiple times, reinforcing the strength of this long-term support level. The current move towards the upper trendline shows that bullish momentum is building.
✅ The RSI is currently at 60, showing positive momentum. A move above 65 would confirm that bullish strength is taking control, supporting a potential breakout from the wedge pattern.
✅The bank has maintained a healthy balance sheet with improving asset quality, which supports long-term growth. Continued focus on expanding its customer base and digital banking initiatives is likely to drive future growth. PositivThe Indian banking sector is seeing increased credit demand and improving asset quality, both of which provide a favorable backdrop for City Union Bank’s growth prospects.
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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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