FLEX has returned to the uptrend after completing its ABC corrective wave structure when bullish pressure was seen rebounding strongly above 123.6%-100.00% expansion of wave A-B. Prices has also trends back into the uptrend line which started since July 2022. Stochastic Oscillator (63,13,13) has confirmed the oversold signal and long-term MACD is close to perform a crossover reversal at the bottom.
We believe that upside will likely to continue and may see US$40.00 as a target in the short-term before correcting. hence, we are allocating major position size at 34.11 and 30.08 support to gun for a strong and long-term 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.