2082 trade ideas
ACWA Power CoA "gap-down" in finance refers to the situation where the price of a financial instrument opens significantly lower than its previous closing price. Like a gap-up, this can happen due to various factors such as negative news, disappointing earnings reports, or adverse market conditions, occurring outside of regular trading hours.
For traders and investors, a gap-down presents challenges and opportunities similar to a gap-up but in the opposite direction. Long positions may face losses, while short positions might gain. However, just as with a gap-up, there's uncertainty about whether the downward momentum will persist or reverse.
Traders often analyze the reasons behind the gap-down and consider factors such as trading volume, market sentiment, and technical indicators to make informed decisions about their positions. Risk management becomes crucial in such scenarios to mitigate potential losses.
Chart of the week Acwa Power. Tadawul IndexThis stock came to my attention somewhere in April 22. Since then I was waiting for this stock to break high made on 3 April 22. 2 weeks before the stock gave closing above 189 then came down to test the support and last week again gave breakout. Now the stock looks like to give up move once again. The targets as per Fibonacci are as follows
CMP - 193 (26/8/23)
T - 226, 287 W
SL - 175 W
TASI, 2082: ACWATrendline resistance breakout. (Confirmation of false breakdown)
Setup is ready for long.
1- Series of HH, HL --> Bullish Trend; Dow Theory
2- Above Trendline Support
3- Every time it hits trendline support, it takes upside movement
4- Biased: Bullish
Buy @ current level (164.4)
Buy after retest of trendline (162), confirmation of HL
Tight SL @ 153.25
or previous HL@ 145.4
Targets slightly below fib levels
TP1 @ 180.5
TP2 @ 187.5
or as per RR 1:2, 1:3
Ride the trend with trailing stop loss
High RS for ACWA POWER 2082TADAWUL:2082
- Symmetrical Triangle Pattern (VCP) with tightness candle weekly or daily.
-High Relative strength compare to TASI .
-Many breakouts with high volumes, as shown in the chart.
-If it breaks resistance, it will probably be a good chance for a long position.
- 3 July 2022 will be Earning call. You should be cautious.
-You need fundamental analysis to build your high convection .
*ONLY FOR EDUCATIONAL PURPOSE , NOT SUGGESTED TO TRADE
Bearish DivergenceIts been going higher and higher but now its time for some rest, a retest of support zone is expected soon and that will be buying opportunity. Also we can see a bearish divergence on the daily chart. So dont make a mistake of have a FOMO at this time. Market will give you a chance just be patient.
Hit like & follow guys;)
BUYING IS MORE ADVISED THAN SELLING
Hello traders and investors
if you are buyer keep your position, if not try to buy if the highest record is boroken
i tried to put all recommandations on my chart so be carefull.
thank you
NB: Remember that i do not have cristal ball predicting markets future but i try with you to have some idees and know reacting efficiently and rationally
please do not foregt making follows and likes if i deserve it .