2030 IS STILL GOING BEARISH 2030 is one of the stocks people want to buy, but to do it in the current time is a wrong decision to make, since as you can see, it kept pushng lower and lower since Sep 2023.
For now, before we can take a small trade on it, we must wait for the stock to take the LQ we have in the level 60.1. As soon as it's done, we will search to see if we have our entry point to follow it.
For any further questions don't hesitate to ask!
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2030 trade ideas
2030| Saudi Arabia Refineries Company📊 Saudi Arabia Refineries Company
📈 Trading within an ascending channel, it will achieve its observed goals in two waves
🏹 Support nad resistance levels as well as targets in the chart
🏷️The current price is 92.5 riyals and at the middle of the channel
🎯The next goal is 96 riyals
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Tadawul: 2030 Al Masafi Long PositionBackground
TADAWUL:2030 in bearish market since 18th of Jan 2022 (156 d) with a loss of 46.99% (69.98)
Current Situation
The recent oil price hike observed a series of trend reversal candle stick patterns consisting of Morning Star, and Tweezer Bottom Pattern in succession during the past 8 days (since 20th June 2022)
Trading Strategy
Entry Point = 92.10
Stop Loss = 88.70 (30 points less than Low of 1st candle of bottom tweezer t avoid stop loss hunting)
1st Target or T/P = 95.5
Portfolio Size = 1000
Risk = 2%
Risk/Reward Ratio (R/RR) = 1.0
Qty = 5
Total Investment in Trade = 460.5
Maximum Possible Loss @ Stop Loss = 460.5 - 443.5 = 17
Saudi Arabia Refineries Co. (2030) ShortBullish Indications
1- Dow: LL and LH
2- Inverted cup and handle pattern
3- Bearish divergence on Chaikin oscillator
Biased: Short
Trade Plan A:
Sell @ current price (130) SL @ 145
TP1 115
TP2 100
Trade Plan B:
Short @neck line (115) SL @ current price (129.6)
TP 100