4031: Rebound from SupportPrice has touched support level and started taking a ride until specified resistance level
price moving in a range bound
Support and resistance levels are specified for short term trade
Enter more after breakout
4031
4031: Ascending Triangle PatternPrice is nicely moving within Ascending Triangle
Entry can be taken now (until triangle top for short gains
Trail SL once the price touch the resistance (triangle top)
Proper Entry will be taken once the triangle breakout is observed
Trail SL below Triangle Top and ride the trend
Bullish on 4031 - Saudi Ground Services Co.I am bullish on 4031, a company that provides ground handling services to airlines in Saudi Arabia. The stock is in a strong uptrend, as shown by the higher highs and higher lows on the daily chart.
- The stock has recently broken above a trend line resistance that was acting as a barrier since November 2023. It is also trading above the key moving averages of 50, 100, and 200 days, indicating a positive momentum and trend strength.
- I think a good entry point would be around 42 SAR, if the stock retraces to test the trend line support or the 50-day moving average. This would offer a favorable risk-reward ratio and a potential upside of about 20% to the recent high of 50.4 SAR.
- I would place a stop loss below the trend line support or the 100-day moving average, whichever is lower, to protect my capital in case of a reversal. I would also monitor the volume and the RSI for confirmation of the bullish trend and the breakout.
- This is my personal opinion and not a financial advice. Please do your own research and analysis before investing. Happy trading! 😊
