Bullish breakout of a trading range for CNX-IT and also confirmation of a (weekly) triple bottom formation.
CNX-IT had been trading in a broad range of 26150- 31655 since its crash from jan 22 levels.
A weekly close above this range with a strong bullish candle confirms the bottom at 26150.
This level was also a strong resistance for about 5 months in jan-may 2021.
From a RSI perspective, a weekly crossover at 60 levels is also bullish indicating the probability of a bullish uptrend
CNX-IT is also in the process of making a U-shaped rounding bottom for atleast 15 months ( more like a saucer shape really)
The next logical target should be a test of all time high levels of 38900 levels.
IMHO, the real opportunity lies in midcap & smallcap IT !
[Discl: No positions, purely for educational purposes ]
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