Power Asset Holdings Ltd (HKEX: 6) has finally seen the light at the end of the tunnel after a long downtrend  between July  and October 2021:   

1. The cup and handle formation is indicative of a bullish reversal.
2. Looking closely at the handle/range box, the potential for a break to the upside is high after Wednesday’s bullish candle closed above the 9-periods Tenkan-Sen.
3. Ichimoku is showing a three golden cross signal after the bullish kumo twist last Friday, and Wednesday’s candle traded above the Kumo.
4. The on-balanced volume uptrend confirms the bullish trend on the price chart.

*Expected timeline of the trade is 15 weeks from the date of report issuance.

CHART LEGEND

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line