$Jusung Engineering

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The overall macro structure on this 1-hour chart has been heavily bearish, characterized by a long series of lower highs and lower lows until price finally found a hard floor around the 126,100 level. We are now witnessing a potential structural shift (CHoCH - Change of Character) as the price aggressively breaks above the short-term moving averages and attempts to recover from the recent bottoming out phase, transitioning from a downtrend into a short-term corrective uptrend.

Looking at the K-line dynamics, the recent sequence shows strong buying momentum; after the sharp capitulation wick down to 126,100, we see a series of consecutive green candles with minimal lower wicks, indicating buyers are stepping in aggressively. However, price is currently hitting a local resistance zone near 141,700 to 145,000, struggling to push past the MA5 and MA10 which are acting as dynamic overhead resistance; the MACD histogram is showing a slight contraction in selling pressure, but the signal lines remain deep in negative territory, suggesting this is still a relief rally rather than a full-blown reversal.

Trading Plan: My trading plan is to play the bounce but respect the larger downtrend by keeping a tight leash on risk. I will look for a long entry on a pullback toward the 135,000–138,000 area (near the recent breakout zone) rather than buying the current top at 141,700, with a hard stop-loss placed just below the recent swing low of 126,100; my first take-profit target is the MA60 resistance around 159,000, where I expect heavy selling pressure to resume.

My Prediction: I predict that Jusung Engineering will face immediate rejection or consolidation around the 145,000 level due to the dense cluster of moving averages (MA5/MA10) acting as a ceiling, followed by a higher low formation that could push the price toward the 159,000 MA60 line; if it fails to hold above 131,000, the bullish thesis is invalidated, and we will likely retest the 126,100 bottom.

What Trade Plan I Follow and Why: I am following a mean-reversion/relief-rally swing strategy because the chart shows extreme oversold conditions (MACD deeply negative, price far below major MAs) combined with a confirmed bottoming pattern at 126,100; the logic is to capture the aggressive snap-back as short sellers take profits, but I am using the "buy the dip, not the rip" approach to avoid getting trapped at the current resistance level.

When I Start My Trade: I will initiate my trade entry only if the price retraces to the 136,000–138,000 support zone and shows a bullish rejection candle (like a hammer or morning star) on the 1-hour chart, confirming that the support is holding and the buyers are still defending the new structure.

Candlestick Pattern: The current candle structure shows a "bullish engulfing" and "morning star" formation that occurred at the 126,100 low, which was the catalyst for this leg up; we are now seeing a "doji" or "spinning top" near the 141,700 level, signaling indecision and a potential pause before the next move.

Final Verdict: The market is in a short-term bullish correction within a broader bearish trend. The setup is valid for a swing long only if we see a healthy pullback to the 136k-138k support, but I would avoid chasing at 141,700 due to the heavy resistance overhead; overall, the risk/reward is favorable for a bounce play, but the trend is not fully reversed yet.