ESHRAQ trade ideas
ESHRAQ Bland movementESHRAQ has been trading in a channel between 0.40 to 0.60 on an avg most of the times since June 2020
Unless and until it breaks the Resistance of 0.88 it looks like it will keep trading between those levels
Right now if it breaks the resistance of 0.60-0.63 , It might travel to next resistance @ 0.72 and then come back to 0.40 levels that is pretty much it
ESHRAQ stock may achieve a return of 27% to 100% on these pricesthe reasons
Standing at an important support
Positive technical patterns formed
The last candlestick is a hammer candle with the possibility of a morning star pattern forming
Positive divergence on the MACD indicator
Buy with a stop loss of 41 levels
Target: 25% of these prices
to 100% in the medium term
WIll it go higher?It had very 2 good days in the market after the capital adjustment. Fridays closing is not very positive we are seeing some selling pressure right into the resistance area. I think coming week we will see more upside move but just incase if it comes down 0.600 should be a good buying area. This stock is now good for holding as the book value of this stock is 0.94
Hit like & follow guys ;)