Automotive Axles Limited is in a rising trend
channel in the medium long term. This shows
that investors over time have bought the stock
at higher prices and indicates good
development for the company. The stock has
also broken a rectangle formation. A decisive
break of the resistance at 2471 will signal a
further rise to 2670 or more. There is no
resistance in the price chart and further rise is
indicated. In case of a negative reaction, the
stock has support at approximately 1910
rupee. Volume has previously been high at
price tops and low at price bottoms. Volume
balance is also positive, which strengthens
the trend. The stock is overall assessed as
technically positive for the medium long term.
