Rec Ltd. could rebound in the near-term

•  Rec Ltd. has moved out of the symmetrical triangle suggesting short-term bullish reversal.
• The stock rise was accompanied was rise in the volumes.
• On the monthly charts, it is trading above the previous months' low, indicating buying at lower levels.
• On the daily charts, prices are comfortable placed above the short-and medium-term moving average. Considering above technical studies, we believe the stock could trade with positive bias. It is likely it could extend current rebound up to 185,200 &213. Bias would remain positive until it trades above 157. Traders could consider buying at current levels and 165.