This idea is borrowed from @DianKemala web of trendline theory. Plus, consideration of each correction was around 40%, I come up with a target price of 7400 :) Accidentally, it is also a fib projection level area, which I didn't draw that to make the chart unreadable.
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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.