BILDCO 1H - RSI Divergence, ABC Correction Ending? Time to Buy?
📈 BILDCO 1H - ABC Correction Ending? Time to Buy? 🚀
Market Overview
Abu Dhabi National Co. for Building Materials (BILDCO) has experienced a strong rally since Mid 2024, reaching a high of 1.34, before correcting sharply.
- The stock has now completed an ABC corrective pattern, with Wave C touching a major demand zone around 0.9546 - 0.9906.
- RSI bullish divergence detected, signaling potential exhaustion of selling pressure.
This could be the right time to accumulate positions as a new impulsive wave may be starting.
- A breakout above 1.12 could confirm a new bullish impulsive wave.
📉 RSI Divergence & Momentum Shift
-Bullish RSI Divergence formed at demand zone, indicating potential trend reversal.
- The RSI has crossed above 30 and is testing the 40 level, signaling that momentum may be shifting bullish.
- If RSI moves above 50, expect strong buying pressure.
📌 Trade Setup:
✅ Entry:1.12 (BOS)
🔻 Stop Loss: Below 0.95(invalidation of demand zone)
⚖️ **Risk-Reward Ratio: 1:4+ (solid trade setup)
⚡ Key Levels to Watch:
✅ Bullish Confirmation:
- Break above 1.12 = Trend reversal confirmed
🚨 Bearish Risks:
- Rejection at 1.10 could cause a pullback.
- A drop below 0.95invalidates the bullish setup.
"Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble." – Warren Buffett
🚨 Disclaimer: This is not financial advice. Always do your own research and manage risk accordingly. 🚨
Market Overview
Abu Dhabi National Co. for Building Materials (BILDCO) has experienced a strong rally since Mid 2024, reaching a high of 1.34, before correcting sharply.
- The stock has now completed an ABC corrective pattern, with Wave C touching a major demand zone around 0.9546 - 0.9906.
- RSI bullish divergence detected, signaling potential exhaustion of selling pressure.
This could be the right time to accumulate positions as a new impulsive wave may be starting.
- A breakout above 1.12 could confirm a new bullish impulsive wave.
📉 RSI Divergence & Momentum Shift
-Bullish RSI Divergence formed at demand zone, indicating potential trend reversal.
- The RSI has crossed above 30 and is testing the 40 level, signaling that momentum may be shifting bullish.
- If RSI moves above 50, expect strong buying pressure.
📌 Trade Setup:
✅ Entry:1.12 (BOS)
🔻 Stop Loss: Below 0.95(invalidation of demand zone)
⚖️ **Risk-Reward Ratio: 1:4+ (solid trade setup)
⚡ Key Levels to Watch:
✅ Bullish Confirmation:
- Break above 1.12 = Trend reversal confirmed
🚨 Bearish Risks:
- Rejection at 1.10 could cause a pullback.
- A drop below 0.95invalidates the bullish setup.
"Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble." – Warren Buffett
🚨 Disclaimer: This is not financial advice. Always do your own research and manage risk accordingly. 🚨
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.
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.