4979 Luxnet had a strong rally above and has break into a new all time high. This confirmed the bullish outlook over the longer-term period and weekly chart shows a potential wave V in the making, with target at 292-336 region.
Daily chart price action shows a bullish continuation after prices breaks above the pennant, with the support of strong rising volume.
Momentum is strong, with long-term MACD rising strongly and Stochastic Oscillator staying elevated above the 50-mid point line. 23-period ROC is strong.
Volume and Directional movement index shows healthy expansion and rising steady strength.
Support at 180 and 165 are key support levels to watch for a rebound
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