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Abu Dhabi National Oil Company For Distribution
Long

ADNOCDIST is getting ready for a bull run

321
ADNOCDIST consolidated above the 50 and 200 MA for the past month creating a diamond continuation pattern and seems to be ready for a bull run soon. Anticipated price action and targets are shown on the chart, stop loss daily close below 3.55 AED.
Note
Deducting the dividends, our stop is now at 3.45 AED, however, given the current geopolitical tension, it is better to close the trade at breakeven @3.57~3.58.
Chartoholic
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Chart PatternsTechnical IndicatorsTrend Analysis

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Chart PatternsTechnical IndicatorsTrend Analysis
Chartoholic
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.