Saudi National Bank (SNB) Insight: Watch for Manipulation Moves!
**Saudi National Bank (SNB) Insight: Watch for Manipulation Moves!**
Attention SNB shareholders: A potential manipulation move might occur before the real bullish rally begins. Monitor the **Open-High-Low-Close** closely. Buyers below **sell-side liquidity**, stay cautious but optimistic. Position yourself wisely to ride the wave when the rally takes off!
1180 trade ideas
Saudi N. Bank 1180: To target 41.4 after crossing Resist. line RDaily chart, the stock TADAWUL:1180 is trading in a descending triangle, with upper line R and lower S
It is seen as a short term trading opportunity between S and R.
However, the price should close 2 days above line R to activate the target 41.4 then 43.3
A stop loss should be considered below line R (32.9).
Be careful: Below support line S, the price can fall to next support line S1 at around 31.4
1180 | Flag Pattern & Bullish DivergenceSaudi National Bank displays a promising bullish reversal pattern characterized by the formation of bullish flag pattern and divergence with RSI. Our plan entails accumulating the stock within the designated buy zone (37.50-37.70 range), while setting stop loss orders below the bottom of support around 36. Anticipation builds for a substantial surge in momentum upon the test of the trend line, anticipated around the 40.90 area. To guide our trading decisions, we've delineated two distinct targets: an immediate target around 40.90 and a final target for exiting the trade will be around 45.50 depending upon break out.
40% upside potential in The Saudi National BnakThe Saudi National Bank is the largest commercial bank in Saudi Arabia.
The share of the bank saw a rise in the form of a wave 1 in march of 2023 from the bottom and then a subsequent 80% retracement of the same from July till oct 2023.
The share has now kicked off in the new wave 3 structure. Since the wave 2 retracement was very deep, it opens up the probability of wave three getting extended and move all the way up till the 50 SAR mark.(44% from CMP)
One could look for some retracement of the past 4days move to make an entry and then ride the strong bullish wave 3 all the way it it lasts.
Note*- This post of is for educational purpose only.