Larger correction wave is likely completedTSE:6526 is looking at a strong possible bullish reversal as the stock has seen a possible end of its corrective structure. Furthermore, there is a v-shaped bottom reversal forming and given the strong momentum, the stock is likely to break above the neckline resistance of 2,371. We expect 1st target to reach 3,612.
Long-term MACD is positive and shows strong momentum. Stochastic Oscillator has rose beyond the mid-point level and 23-period ROC is strong. Directional movement index reiterates the strong bullish strength.
