Nanofilm (SGX: MZH) corrective move is set to end based on the recent technical shown:
- The falling wedge is a continuation pattern of the upside from November 2020 to January 2021.
- Nanofilm has been on an uptrend since October 2020 and the falling wedge is just a continuation of the upside trend.
- Prices has first broken out of the falling wedge and a throwback, follow by breaking the immediate resistance level at $5.10 with a strong bullish candle last Thursday.
*Timeline of the trade is 6 weeks from the date issued.