TADAWUL: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...
TADAWUL:2222
SAUDI ARAMCO clean structure on chart. Extended wave 3 is completed. Now stock is on correction in wave 4
I think stock will take few more weeks to complete the wave 4 correction.
Now I think there are more than 2 possibilities. I have shown 2 possibilities in chart.
1) First possibility is that stock is in wave 1 of extended...
TADAWUL:2010
Saudi Basic Industries Corp. can break multiyear consolidation but there are two alternatives this is one possibility which I have shown in charts. In both possibilities SABIC should have to go below 59.5 in spot market to end multiyear consolidated bear trend. Then I think SABIC will be in bull trend.
Entry: -
1) If Stock goes below 59.5 then wait...
Saudi Dairy and Foodstuff has given a up flag breakout on weekly charts. This stock is trading on Tadawul Index. CMP is 178. Target would be 228 and stoploss for the trade is 165 on weekly closing basis. This trade has a very favorable risk to reward ratio, therefore, worth taking a trade.
Alinma Bank (TADAWUL:1150)
● First breakout happened on 28 July 2021.
● After the strong breakout happened earlier, the stock is seen consolidating again.
This signals a higher base building process which will act as launchpad for the next up move.
TADAWUL:2222
According to the line mentioned in the graph, we see that the market in an uptrend and protect by our line, October 05 gives us a strong signal to buy so I announce to all who are interested in 2222 to buy the SAUDI ARABIAN OIL stock and who already have it in their wallet to buy it again
The price will continue swimming toward 13.40 --very strong support, even if we go down a little bit it will pull back-- selling time.
once the trend is reversed it's going up just below 15.07 then we bounce back , even if it go a liltle beyond that resistance.
