Nahdi Medical Co. (4164) - False Breakdown & Trendline Breakout?🚨 Nahdi Medical Co. (4164) recently experienced a false breakdown below 115.6, but has since recovered above it. With the stock now testing a downward trendline, crossing this line could signal the start of a new upward move. 📈
💡 Key Points:
• Current Price: 115.2
• False Breakdown at: 115.6
• Key Resistance at: 118
• Support/Stop Loss: 111.6
• Target: Potential upward swing after breaking 118
📊 Technical Analysis: The false breakdown below 115.6 followed by a recovery signals a potential bullish reversal. If the stock breaks the downward trendline and crosses above 118, it will confirm a new upward swing.
📈 Trade Strategy: The price range between 111.6 and 118 is an ideal buying zone. A breakout above the downward trendline and 118 will confirm the start of a new upward wave. Enter with a stop loss at 111.6, and if 118 is breached, expect the rally to continue.
What are your thoughts on Nahdi Medical Co.’s price action? If you think I missed something or see a different pattern, feel free to share!🔥
