6141 DMG Mori is looking at a strong bullish upside after the stock has seen a strong reversal at the base of the channel. Looking at the weekly chart, the stock has been on a steady uptrend since 2013 and stock recent price action on the weekly chart also sees DMG being supported above the 200-EMA. 14-week period RSI saw rising momentum when the lows are rising higher. Descending corrective channel which started in Apr 2024 is likely to be a bullish flag. https://www.tradingview.com/x/GHhHvs5v/
Looking at the daily chart, the bullish rebound is kinda cemented after it closes above the bearish down gap. Furthermore, Ichimoku shows three bullish golden cross.
Long-term MACD is looking at a return of a long-term bullish momentum. Stochastic rose and this has confirmed the upside momentum and bullish oversold signal. Volume remain healthy.
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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.