ZTE Corp (HK: .763) might see a strong bullish trend after prolong period of ranging. Based on the technicals below, the bullish cause might even continue higher should the immediate resistance of 24.25 breaks:

1. Bullish flag formation signifies a bullish continuation.
2. Morning Star candle above 61.8% of the Fibonacci retracement from 30-24.25.
3. Inverted head and shoulder formation signify a potential bullish breakout.
4. 22, 50 and 200 SMA has performed a bullish crossover respectively, strengthening the case of a bullish continuation.
5. Prices has been trending above the 200 and 50 major moving averages.

CHART LEGENDS

Simple Moving Averages

Red dotted line = 200 SMA

Blue dotted line = 50 SMA