Rebound Insight
Our Pivot: 11.90
Our Preference: Buy ASL above 13.17 with strict stop loss of 11.90 and profit target at 15.93 and 18.26.
Alternate Scenario: Downward penetration of 11.90 will call for 9.80
NOTE: ASL is moving in a downward price channel on weekly chart and it's about to complete third primary wave of its bearish Elliot Wave. Right now its going to face a strong support from a horizontal supportive region and in case of penetration it would find ground at supportive trend line of said channel.
Weekly chart with supports and resistances:
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