Capitaland-worth looking?

Genting Hong Kong Elliot Wave 3?

Observations:
-Genting HK's had been trading sideways for the past few weeks.
-Overall look at the chart seemed to indicate that its Wave 3 formation have yet to be fully completed. IF this is so and prices move on to complete Elliot Wave 3, it could mean that prices would easily go past the previous high of US$0.55.
-Px seemed to be forming an ascending triangle look-alike shape with resistance at US$0.475. I would not totally call it an ascending triangle since price fluctuations are not as pronounced as the typical ascending triangle.
-MACD just crossed over to the positive.
-50D MA rising, currently at US$0.445. This could provide support for the price.
-Bollinger band narrow.

Trading Hypothesis:
I expect GHK to break its high of US$0.55 in the meantime. Any close above US$0.48 would be lend further support to this hypothesis, as px break out of the ascending triangle. A target price of US$0.6x might be likely following its completion of Wave 3 formation.