ADNOCDIST trade ideas
BUY ADNOCDISTI'm saring with you again one of the trades you can ride and hold for a few weeks on ADNOCDIST.
As you can see on the chart, the price just pulled on the EQ with a high volumed big candle which is an indication to buy and target the next LQ Pool to close at the safest point on the Bullish move.
The comment secion is all yours for further questions!
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ADNOCDIST is getting ready to breakoutADX:ADNOCDIST is approaching a breakout level at 3.74 AED which is neckline of the a double bottom and above the 200 MA. Either long the break out with stop daily close below the 50 MA or enter at 3.65~3.66 AED if the stock rejects from 200 MA with a tight stop daily close below 50 MA.
Not financial advice, my view only
Ready GOAdnoc distribution is holding up well right at the support zone and I think its ready for a new leg to the upside. It has established its base at 3.70 and now its gearing up for the move. Overall this stock is still in a downtrend BUT its trying hard for the reversal. If at all we can see a closing above 3.90 then we can say that now price is in bulls territory. For now still anything can happen it can can rejected at current level and go down (hopefully not)
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ADNOCDIST (Adnoc Distribution) to target 4.52 in 3 monthsAbu Dhabi Market:
Supported by the technical indicators RSI and MACD,
On the daily chart, ADNOCDIST is moving in an ascending channel, where next target is 3.85, then 4.10.
Crossing 4.15 - 4.20 will push the stock to target 4.52 in 3 months.
Stop loss should be considered.