Clear long-term uptrend aheadTSE: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.
