ELIN Electronics (Weekly Timeframe) - Potential BreakOut & ATH??ELIN was at an All-Time High (ATH) in Sept 2024, ever since it has been in a downtrend till Mar 2025. The stock has been on a bullish reversal since then and has broken out of a major angular resistance trendline after several attempts. Last week, it also BrokeOut of a major horizontal resistance zone. The stock surged by 15.19% with above-average volume. The Short-term EMAs are still in a Positive Cross-over state, signaling a bullish trend.
If the stock is able to sustain the uptrend during the coming week, then it may reach 235 levels & thereafter target new ATH. On the downside, it may reach 165 levels considering some profit booking.
Price-action is to be monitored!!!
