5726 is looking at a strong bullish trend resuming after bullish break above the corrective downtrend line in 10 Nov 2022. We believe that the stock is in an sub impulse wave 3 and near-term may see limited upside nearing 3,035-3,225. Hence, we are watching 2,476 and 2,175 as the potential wave iv rebound level. Long-term target is at 4,540 level while we believe that over the longer-term period, this stock is able to ride up further as Monthly chart has shown a new set of supercycle wave III in the making. Daily chart momentum score is positive as long-term MACD, stochastic and 23-period ROC is sloping upwards. Directional movement index is indicating strong bullish strength signal.
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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.