Saudi Aramco Short Term View

Oct 24, 2023

2222

• SAUDI ARAMCO breaks out of parallel channel after completing wave 3 extension.
  

• Now I think it's in wave 4 the ideal correction measure for wave 4 is 38.2% of wave 3. maximum is 50% of wave 3. In this case it's possible that stock will correct to near 50%.
  

• Now why 50% I'm saying is because there is strong support created on 14 jul 2022 at near 31.20 which will act as support.
  

See my next analysis for LONG TERM view.

Feb 22

Trade closed: target reached