After recording the bottom over medium term basis at 22.72, the share started an upside correction extending beyond the 23.6% correction and currently near 38.2% at 26.10. 
This level is supported by the overbought signals over hourly basis, which is expected to pressure the shares into a slight downside correction to retest the breaching neckline for the bullish pattern shown above at 25.60. This bullish pattern can push the shares higher towards 61.8% correction at 28.17. In general, we preserve the suggested bullishness over short term basis which is within the upside correctional wave for the downside move that started from 31.56 towards the bottom at 22.72 and breaching the targeted correction at 28.17 is capable of ending the medium term bearishness and reverse to the upside towards the mentioned top. On the other hand, breaching 24.68 signals that the upside correction will end and the share will continue the medium term bearishness.
By: Yasir Mubarak
Senior Technical Analyst
[email protected]
www.ecpulse.com