Elm (TADAWUL: 7203) – Key Gann Levels in Play!
Elm has been on a rollercoaster ride, experiencing a strong uptrend before hitting resistance and pulling back. The stock is now trading around 1,059 SAR, testing a key 360° Gann level at 1,015 SAR. So, what’s next? Let’s dive in!
Could be the scenario ;)
🔍 Technical Breakdown:
🔹 Resistance Levels:
1,181 SAR (405° Gann level) – A key zone that previously acted as resistance.
1,359 SAR (450° Gann level) – Breaking above this could restart the bullish trend.
🔹 Support Zones:
1,015 SAR (360° Gann level) – Crucial support currently being tested. A hold here could trigger a bounce.
862 SAR (315° Gann level) – Next potential support if selling pressure continues.
🔹 Trend Analysis:
The stock had a massive bull run before topping out and now seems to be in a correction phase.
If bulls defend 1,015 SAR, we might see another upside attempt.
🎯 Potential Scenarios:
🟢 Bullish Case:
Holding 1,015 SAR could lead to a retest of 1,181 SAR and, if momentum continues, a push towards 1,359 SAR.
🔴 Bearish Case:
A break below 1,015 SAR could signal further downside towards 862 SAR and possibly lower.
⚠️ Key Takeaway:
Elm is at a make-or-break level! Will bulls step in at 1,015 SAR, or is more downside ahead?
💬 What’s your outlook? Share your thoughts in the comments! 🔽🔥
#Elm #TADAWUL #StockMarket #GannAnalysis #TechnicalAnalysis
Could be the scenario ;)
🔍 Technical Breakdown:
🔹 Resistance Levels:
1,181 SAR (405° Gann level) – A key zone that previously acted as resistance.
1,359 SAR (450° Gann level) – Breaking above this could restart the bullish trend.
🔹 Support Zones:
1,015 SAR (360° Gann level) – Crucial support currently being tested. A hold here could trigger a bounce.
862 SAR (315° Gann level) – Next potential support if selling pressure continues.
🔹 Trend Analysis:
The stock had a massive bull run before topping out and now seems to be in a correction phase.
If bulls defend 1,015 SAR, we might see another upside attempt.
🎯 Potential Scenarios:
🟢 Bullish Case:
Holding 1,015 SAR could lead to a retest of 1,181 SAR and, if momentum continues, a push towards 1,359 SAR.
🔴 Bearish Case:
A break below 1,015 SAR could signal further downside towards 862 SAR and possibly lower.
⚠️ Key Takeaway:
Elm is at a make-or-break level! Will bulls step in at 1,015 SAR, or is more downside ahead?
💬 What’s your outlook? Share your thoughts in the comments! 🔽🔥
#Elm #TADAWUL #StockMarket #GannAnalysis #TechnicalAnalysis
Time is more important than price. When time is up price will reverse." – W. D.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Time is more important than price. When time is up price will reverse." – W. D.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.