Ase technology -Corrective wave ended, upside resuming

3711 Ase Technology is looking at a possible end to its corrective wave and a bullish impulse wave is likely staging a return. From the price action perspective, there's a strong rebound previously at 123.6% expansion level of wave A-B. Furthermore, the stock has also formed an ascending triangle, which sees a potential break to the upside.

Momentum wise, long-term MACD's histogram just turned positive and stochastic oscillator has been rising steadily, giving a strong steady upside momentum.

As such, we are aiming a mid-term target of 187.00