Potential Breakout: Trading Idea for Al Etihaad (7040)"Al Etihaad (7040) is currently in an uptrend and has tested the resistance multiple times. This indicates a strong potential for a breakout soon. The formation of a triangle pattern further supports this possibility. Additionally, the above-average volume suggests increased interest in the stock.
The current price is 172. If the breakout occurs, the first target price could be 192.8, followed by a second target price of 214.2.
However, it’s crucial to monitor the stock closely for any changes in the trend or volume. It’s also important to consider other market factors and news related to Al Etihaad.
Remember, this is just a trading idea based on the current technical analysis. Always do your own research and consider your risk tolerance before making any investment decisions."
Please note that this is not financial advice and it’s important to do your own analysis before making any investment decisions. Investing in the stock market involves risk and it’s possible to lose your investment.
