Ascendas (SGX: A17U) stock price will enjoy bullish upside after the recent correction based on the technicals indicated:

1. The REIT had completed its 5-wave minute wave and it’s on the 1^st wave of the minor phase. Current wave analysis indicates that the wave 2 corrective phase is completed.
2. The piercing line candlestick pattern has rejected the 200 SMA and the support level of 3.03.
3. The piercing line has also close above the 61.8% of wave 1, a crucial Fibonacci number that supports the bullish rise.
4. The 50 SMA has crossed above the 200SMA, indicating a strong bullish confirmation

*Timeline of the trade should be between 1-3 weeks from the date issued.

CHART LEGENDS

Simple Moving Average

Red dotted line = 200 SMA

Blue dotted line = 50 SMA