Clear bullish rebound at the bottom, potential triple bottom

22 Okt

3037 is looking at a strong potential rebound to the upside after prices breaks and filled above the 2 bearish gap on two different occasion. With the ichimoku showing two out of three bullish crossover, the stock is poised to rise further. To add on, the rise today was supported by strong rising volume. Breaking above 170 in the near future will cement the strong upside to come.

Stochastic oscillator has shown an oversold crossover and 23-period ROC has risen above the zero line.

Weekly chart shows a symmetrical triangle in formation and stock remain supported above the 200 weeks EMA.