Chartered Semi Conductor: Genuine Recovery

Immediate Resistance: 1.5
Immediate Support: 1.45

When most ppl think that the stock is a gone-case stock, it is creeping up day by day. From the chart, it can be seen that chartered has wave 1 from 1.16 to 1.37. Wave 2 from 1.37 to 1.26. Right now chartered is in wave 3, which is supposed to be the longest among the wave. Price target for wave 3 will be 1.6. However, because chartered has been in the overbought region at current lvl, it takes quite some time to reach its target. From today's movement, you can see that the price of chartered actually close at 1.48, which is 1 cents higher than previous high of 1.47 set in 13th Mar. Therefore, I believe this time it will likely going to reach the wave 3 target price.