Aeroflex Industries: Triangle Breakout Signals Fresh Upside

gave a symmetrical triangle pattern breakout on the daily timeframe earlier this week, followed by a strong follow-through move. The stock trades above key short- and long-term moving averages, indicating a strong underlying trend. The RSI is in a rising mode and has settled above 60 on both the daily and weekly timeframes, indicating strong bullish momentum. Additionally, the MACD slope is pointing upwards with rising green histogram bars, further reinforcing the bullish bias. The stock has also sustained above the breakout zone, suggesting that the breakout is gaining strength rather than turning into a false move. From a technical perspective, the immediate resistance is placed around Rs 520-525, which is close to the previous swing high. A decisive close above this zone could open the way towards Rs 550-560 levels in the near term. On the downside, Rs 480-475 is likely to act as an important support zone, followed by the Rs 465-455 area. The overall setup remains positive as long as the stock sustains above the breakout zone and its short-term moving averages. Traders can watch for sustained buying above Rs 520-525 for further upside, while a move below Rs 475 could weaken the near-term structure. Overall, Aeroflex Industries has turned technically bullish after the symmetrical triangle breakout, with momentum indicators and moving averages supporting the positive setup.