TALABAT - (DFM) Potential Reversal from Demand Zone
📉 TALABAT Potential Reversal from Demand Zone 🚀
The stock has been in a downtrend since its IPO, establishing an uptrend around January 5th, followed by a corrective wave starting January 21st after the previous impulsive move.
Currently, the price is testing a key demand zone (1.42 - 1.39), which was formed earlier in January. Signs of a potential trend reversal are emerging, including a break of the downward trendline.
A strong supply zone at (1.59 - 1.62) could serve as a profit target for an upward move.
This could mark the completion of Wave 2 correction within a larger uptrend. A breakout above 1.46 may signal the start of Wave 3, leading to a powerful bullish move.
Setup:
Entry: 1.42 - 1.45 (demand zone confirmation)
Stop Loss: Below 1.39 (invalidates the demand zone)
Take Profit: 1.59 - 1.62 (supply zone)
Risk-Reward Ratio: ~1:3 (ideal for a high-probability setup)
"The market is a device for transferring money from the impatient to the patient." – Warren Buffett
🚨 Disclaimer: This is not financial advice. Always do your own research and manage your risk accordingly. 🚨
The stock has been in a downtrend since its IPO, establishing an uptrend around January 5th, followed by a corrective wave starting January 21st after the previous impulsive move.
Currently, the price is testing a key demand zone (1.42 - 1.39), which was formed earlier in January. Signs of a potential trend reversal are emerging, including a break of the downward trendline.
A strong supply zone at (1.59 - 1.62) could serve as a profit target for an upward move.
This could mark the completion of Wave 2 correction within a larger uptrend. A breakout above 1.46 may signal the start of Wave 3, leading to a powerful bullish move.
Setup:
Entry: 1.42 - 1.45 (demand zone confirmation)
Stop Loss: Below 1.39 (invalidates the demand zone)
Take Profit: 1.59 - 1.62 (supply zone)
Risk-Reward Ratio: ~1:3 (ideal for a high-probability setup)
"The market is a device for transferring money from the impatient to the patient." – Warren Buffett
🚨 Disclaimer: This is not financial advice. Always do your own research and manage your risk accordingly. 🚨
Trade active
Trade closed: target reached
Trade closed at the SZ, price is rejected at the Supply... waiting for a second retest of the DZ to jump again 
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.