Sobha: Flag Breakout Above 1410Details:
Asset: Sobha Ltd (SOBHA)
Breakout Level: 1410
Potential Target: 1500
Stop Loss: Below 1375
Timeframe: Short to medium-term
Rationale: Sobha has given a flag pattern breakout above 1410, indicating bullish continuation. Strong volume and price action support further upside toward 1500.
Market Analysis:
Technical Setup: Classic flag breakout with momentum building post-consolidation.
Sector Outlook: Realty sector remains strong with robust demand and rising property prices.
Risk Management:
Stop loss below 1375 to manage risk in case of a pullback.
Timeframe:
Target of 1500 expected in the short to medium term.
Risk-Reward Ratio:
Positive setup with limited downside and clear upside potential.
Monitor price action for sustained close above 1420 for confirmation.
