#SOBHA Support & Resistance levels

Sep 23, 2024

#SOBHA
As of September 23, 2024, Sobha Ltd. shares are trading around €1,987 to €2,043, reflecting a strong upward trend over the past few weeks. The stock is displaying bullish momentum, with key technical indicators like the RSI maintaining strength, hovering around 60, and the breakout of a triangle pattern further suggesting the potential for upward movement.
For potential bullish movement, breaking the €2,090 level would be significant. In terms of support and resistance levels:
Immediate Resistance: €2,090, which is the key breakout level.
Major Resistance: *2,160, which was the all-time high in June 2024.
Immediate Support: €1,960 to €1,930 levels, where the stock has shown consolidation and bounced from recently.
Major Support: €1,850.
For a stop loss, you could place it just below ₹1,930, as this level has provided support in the recent price action. If the ₹2,090 level is breached, it may open up the possibility for further gains toward €2,160 and beyond.