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Sumou Real Estate Co at resistance levelsFollowing a significant upward movement that commenced on January 24, 2024, with a breakthrough of the price at 44.6, the stock prices have reached previous levels, averaging at a price of 55. This suggests that the stock prices will encounter historical resistance levels within the range of 55 to 61. Consequently, a correction down to 49.7 may be observed. Nevertheless, it is important to note that we are currently experiencing an ongoing uptrend, and there are no indications of an imminent downtrend in the near future. However, if the prices fail to surpass the 55 price level and remain within this range, we may witness a sideways movement for an extended period. However, it is important to consider the risk-to-return ratio before taking any position. Assessing the potential risk and potential reward is crucial in making informed trading decisions. It's worth noting that the analysis provided is based on the information given and assumes the accuracy of the mentioned technical indicators. However, market conditions can change rapidly, and it's always important to conduct comprehensive and up-to-date analysis before making any investment decisions.
TADAWUL:4323Long
by JR-HUB
NADEC has shown weakness and formed a top H&Ss NADEC has just formed a top H&Ss though its neckline is slightly up-slanted which some chartists don't take for consideration. It still follows most of the formation principles such as the spike in volume corresponding head and the shoulders. To sum up my readings which could be wrong sometimes. weaknesses: 1- parabolic move is broken down! see the arrow in chart 2- Within the major H&Ss formation, a minor "right angle triangle" is formed which in many cases is bearish considering the decreasing heights. 3- Corrective Wave III is on the run and it is usually very very aggressive. strength: 1. Fundamentally, the company has improved its net-profit. 2. Corrective wave C is formed and either it goes on or revers but usually the latter. I don't mean to bore you with my analysis, but if you want to short it, wait till the yellow-highlighted support as seen in chart is broken down with some volume then you get the confirmation.
TADAWUL:6010Short
by gamall1987