CHP may look like its still ranging. But technically there are signs that this stock is about to move up. There is a bullish divergence as indicated by both RSI and MACD. It's able to finally make a Higher Low and Higher High pattern. Those signs are enough for me to say that CHP is kind of bullish right now. Immediate resistance is around P12.00.
On Elliot Wave perspective, I am expecting this stock to breakout to form the wave 3. Invalidation point of the current wave count will be the P10.64. A break of this level means we need to re-evaluate the chart.
DISCLAIMER:
This is just my own personal analysis base on what I see on the chart. It is not a recommendation to buy/sell. Trade at your own risk.
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