Using the V shaped price projection, USTec has an upside potential and could climb to 12,843.
USTec has had a breakout last Friday’s night. Price has surpassed its previous historical high, establishing a bullish trend. This comes after almost 4 months after hitting the previous historical high back on 20 February 2020.
MACD is bullish at the moment but there is a possibility of divergence forming. Stochastic is also in the overbought extreme after climbing from the low on 23 March 2020. We may see some consolidation before the uptrend resumes again.
In the short term, USTec will need to stay above 9753 to continue the bullish rally. A move below the previous high of 9753 will signal a consolidation which could see a decline lower to 9220 before the rally resumes again.