AttijariWafa Bank (ATW) - Technical Analysis Casablanca St EXThe ATW stock is still following a strong upward trend, but key technical signals are emerging, especially with a RSI divergence. Here's what to watch for:
Trend & Key Zones
Bullish Channel: The stock is within a solid upward channel, indicating continuous growth.
Demand Zone: Around 612.5 MAD, the stock has found strong support in the past.
Consolidation Phase: The price is fluctuating between 663 MAD and 700 MAD, awaiting a breakout.
Major Resistance at 700 MAD
The stock is facing resistance near 700 MAD, a level it's yet to break consistently. A breakout above this could signal further gains, while failure to surpass it could lead to a pullback.
RSI Divergence: Loss of Momentum?
The RSI is showing divergence with price action. Although the price is reaching new highs, the RSI is weakening, indicating that bullish momentum may be losing steam. This could signal a potential reversal or correction in the near term.
What to Watch
If the price breaks above 700 MAD with increasing volume, the upward trend might resume. However, if the RSI divergence continues and the stock fails to break resistance, a pullback to the demand zone may present a buying opportunity.
