Saudiarabia
SAUDI BASIC INDUSTRIES CO likely to go up .TADAWUL:2010 gave a buy signal , I think price is likely to continue up to around the first blue rectangle (88.3-91.5 Area) which would be the first target with a powerful level around the 88.3 (first blue line) .
It would be interesting then to watch If the price breaks and closes in an upcoming day considerably above the first blue rectangle (Above the 91.5) because if it does , it would likely continue up to around the second blue rectangle which would serve as a potential Second Target .
(Second Blue Rectangle :101.5-105.5 area with a powerful level around the second blue line at 101.5)
SAUDI TELECOM CO looks promising .After publishing (On May 1st) the buy entry on my profile for TADAWUL:7010 it went from around 90 to 100 so far (Over 11% Growth) .Right now , being priced at 100 , there is still a promising potential for this stock .
In fact this stock is showing a powerful bullish momentum .AS LONG AS it remains CONSIDERABLY ABOVE the black line (like now) and closes the week considerably above the black line it would very likely continue up to around the first blue rectangle (105-110 area) with the strongest level in the blue box at around the 106.7 .At that point it would be interesting to watch an upward break of the blue rectangle and a considerable close above the first blue rectangle .That I think would be a powerful signal that we would continue up to around the second blue rectangle at the 117.5-120 area with the strongest level in the box being around the 117,5 .
SAUDI ARABIA WEATHER = LARGE & NARROW RANGE -$TASI- 3OMN - IDEAThanks for your like! Please also share to benefit the most! Much appreciated!
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The all Saudi Arabian shares index TADAWUL have seen first an acceleration of the fall to finally recover a little bit lately.
Now in a narrow range, we can see that it is framed by a wider range still legit.
Zone 1 and zone 3 are the next possible moves . Lines will be broken probably by a large candlestick or a large gape.
In fact, we have seen the market jumping from one range to another just by using "impulsive gapes".
This market doesn't offer much data , the study of the candlesticks reveals that actual support has been tested several times but not been broken.
If the market goes beyond, this will possibly be a smart entry point for long fall.
In the other side , the actual resistance (narrow range) seems to be less strong and possibility of seeing it broken are also likely as it is a very weak point. This will go in the sense of a consolidation of the price.
Tadawul Index startet mit - 7% Seit Anfang des Jahres hat der saudische Aktienindex „ #Tadawul All Shares Index“ rund 20 Prozent an Wert verloren. Aktienmarkt brach heute um rund 7 % ein – (Heute? – Ja in einigen muslimischen Staaten ist Freitags statt Sonntags die Börse geschlossen) #Moodys hat den Ausblick für die Finanzkraft des Landes am Freitag bereits auf negativ gesenkt. Fragt sich wie lange #SaudiArabia und die #OPEC den Öl-Streit aushalten können?
SAUDI TELECOM has potential to go up (More Confirmation Needed)TADAWUL:7010 has a considerable potential to go up but to consider buying this stock , confirmation is needed .I think a good confirmation would be to have price closing considerably above the green line (above the 93 area) in an upcoming day .After we get this confirmation , price is very likely to continue going up until around the 103 area .I am convinced that it would be wise to HOLD this stock right now as long as it doesn't close considerably below the 86 mark because I think it has a good potential (Long term) .