3711 Ase Technology is looking at a possible end to its corrective wave and a bullish impulse wave is likely staging a return. From the price action perspective, there's a strong rebound previously at 123.6% expansion level of wave A-B. Furthermore, the stock has also formed an ascending triangle, which sees a potential break to the upside. Momentum wise, long-term MACD's histogram just turned positive and stochastic oscillator has been rising steadily, giving a strong steady upside momentum.
As such, we are aiming a mid-term target of 187.00
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.