Standard Chartered PLC (HKEX: 2888) technicals signal strong bullish upside after 4 months of consolidation:

1. The medium term ascending triangle formation signals upside.
2. The bullish Marobozu candle has broken out of the smaller bullish pennant formation and above the 50-day moving average, confirming the bullish sentiment.
3. Multiple testing of the resistance zone suggests weakening selling pressure.
4. The golden cross formation is still intact as prices are still above the 50 and 200-day moving average.

*Expected timeline of the trade is 8 weeks from the date of report issuance.

CHART LEGEND

Moving average

Red dotted line = 200 period Moving Average

Blue dotted line = 50 period Moving Average