VNET is looking at an early bullish trend continuation after the stock has broken out of the falling wedge and forms a pair of higher high and higher low. Uptrend remain intact since April 2024. Stock is likely to see strong upside going forward. Long-term MACD just see a crossover. and histogram is positive. Stochastic oscillator has risen after confirming the oversold crossover and 23-period ROC is positive.
Volume is strong along with the uptrend and directional movement index is strongly bullish.
We see the target able to reach US$20.00. support will be at 7.65 and 6.27
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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.