Arriyadh Development Company (4150) - Technical Analysis
Pattern: Bullish Dragon Pattern
Context:
Previous Trend: The stock price was in a downtrend since reaching a peak of SAR 25.85. During this downtrend, the price made lower lows and lower highs, resting around SAR 21.
Breakout: A breakout was observed from the descending trend line.
Pattern Details:
First Candle: Long bearish candle during the downtrend.
Second Candle: Small-bodied candle that gapped down.
Third Candle: Long bullish candle that closed above the trend line at approximately SAR 22.70.
Support: After the breakout, the price reset and established support around SAR 22.34.
Potential Reversal: The formation indicates a potential reversal to an uptrend.
Resistance and Target:
Initial Resistance: SAR 24.46
Target: Upon breaking the initial resistance of SAR 24.46, the price may test the previous top of SAR 25.85.
Pattern: Bullish Dragon Pattern
Context:
Previous Trend: The stock price was in a downtrend since reaching a peak of SAR 25.85. During this downtrend, the price made lower lows and lower highs, resting around SAR 21.
Breakout: A breakout was observed from the descending trend line.
Pattern Details:
First Candle: Long bearish candle during the downtrend.
Second Candle: Small-bodied candle that gapped down.
Third Candle: Long bullish candle that closed above the trend line at approximately SAR 22.70.
Support: After the breakout, the price reset and established support around SAR 22.34.
Potential Reversal: The formation indicates a potential reversal to an uptrend.
Resistance and Target:
Initial Resistance: SAR 24.46
Target: Upon breaking the initial resistance of SAR 24.46, the price may test the previous top of SAR 25.85.
Trade fechado: objetivo atingido
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.