FGV - Another up leg to go!!??

FGV (5222) Another up leg to go!!??
(chart courtesy of UOB KayHian Techanalyzer)

FGV is currently bouncing off the lower trendline of expanding wedge (triangle) as shown in diagram above.
Mid-term view (within a year): FGV is poised to extend another up leg and challenge the upper trendline as the primary wave ((E)), thus completing the final wave of cycle wave B in this bear rally.
Brief description of the price structure history for FGV:
FGV started it's downhill journey since it's listing in Jul 2012 in a five wave fashion, and hit the bottom in Aug 2015.

Since then, FGV was forming an expanding wedge, in which the fourth wave ((D)) was completed in Nov 2016.

Prognosis for price movement of FGV:

As wedge price chart patterns always occur in a five wave model (A-B-C-D-E), another up leg primary wave ((E)) is expected to occur in 2017 as the last up leg of bear rally.

(chart courtesy of UOB KayHian Techanalyzer)

Short term view: FGV is currently in the midst of completing leading diagonal as intermediate wave (1) of primary wave ((E)).
After much hugging on the upper trendline of leading diagonal, FGV is expected to test lower levels of support (1.80, 1.72 or even 1.60), before resuming the bear rally.
Simple summary: FGV will retest the upper trendline of larger expanding wedge, however in short term it shall dip lower to confirm the support of lower levels as pin pointed by Fibonacci retracement lines.