Corrective structure is at its terminal end Though Aerospace Industrial Development TWSE:2634 is still in its corrective downtrend channel, we believe that the correction has hit its terminal end and its getting ready for a bullish rebound after strong bullish pressure was seen sustaining above the 40.00 psychological level. We believe further upside is likely to continue as long-term MACD’s histogram has turned positive and its signal/MACD line has crossed and is sloping upwards towards the zero line. Stochastic has confirmed the oversold crossover. Volume is also in a healthy position. Ichimoku shows a clear bullish signal. Short-term target is at 58.00 while long-term target is at 72.00. Support to accumulate on pullback is at 43.95. TWSE:2634
