7951 is looking at a potential reversal after the stock formed an inverted head and shoulder formation. Furthermore, the stock has broken above the bearish gap down zone, indicating renewed buying pressure. Hence, we believe that the stock is likely to edge up higher after long-term MACD momentum is showing signs of return.
https://www.tradingview.com/x/9t0ZiukQ/
Weekly chart shows a larger completion of wave A and currently we may see another upside leg of wave B with target at 1614-1792
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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.