2050 trade ideas
2050| Savola📊 Savola
📈 The stock is trading at the bottom of bullish flag after broke out ascending channel
🔖 The stock is promised 35% 🚀 to achieve the percentage of the penetrated channel to the level of 70 riyals
💰5% profits from the start of follow-up (53 riyals)
🏷️The stock closed at 53.40 riyals
🏹Goals: from 55 to 70 riyals
🎯Next goal: Retesting the resistance at the 55 riyal level. If successful, it targets 58-60 riyals.
👇🏻 The rest of the goals and details are in the drawing
Good luck
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Thanks!
2050 : SAVOLA (The trade is ready)SAVOLA Group is a major F&B producer and distributer in Saudi Arabia and Middle East. The stock has been trading in down trend over the last year while most other companies were making new all-time high. Why?
The reason being there is a major macro trend taking place since 2006. Lower lows and Higher highs forming a triangle that is generally a sign of major pull after it breaks to the upside.
For the time being, the chart seems to have bottomed at around 30 SAR and now is moving on the leg up to make a new high at the upper edge of the triangle lines.
We have entered the trade at 32 SAR with our target at (+23%). Keep watching this will be the trade of 2022 and 2023.
Best,
FBH