4979 Luxnet had a strong rally above and has break into a new all time high. This confirmed the bullish outlook over the longer-term period and weekly chart shows a potential wave V in the making, with target at 292-336 region. https://www.tradingview.com/x/K2NjL5zN/
Daily chart price action shows a bullish continuation after prices breaks above the pennant, with the support of strong rising volume.
Momentum is strong, with long-term MACD rising strongly and Stochastic Oscillator staying elevated above the 50-mid point line. 23-period ROC is strong.
Volume and Directional movement index shows healthy expansion and rising steady strength.
Support at 180 and 165 are key support levels to watch for a rebound
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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.