๐ Stock Alert: SAUDI RESEARCH & MEDIA GROUP (4210)
๐ Investment View: Technically Bullish ๐
๐ Quick Info ๐
๐ Entry Range: 220
๐ฏ Targets : 270
โ Stop Loss: 200
โณ Nature of Trade: Long Term (Swing)
๐ Risk & Reward Ratio: 1 : 2.50
๐ฐ Technical View: In the preceding trading week, the price movement successfully breached the significant resistance level of 220 SAR, culminating in a notable total gain of 30.2 SAR (+14.60%) and concluding at 237 SAR. Additionally, the super trend indicator has signaled a bullish momentum within the weekly time frame, further corroborated by the confirmation provided by the MACD indicator. Looking ahead, the former peak at 270 SAR now functions as a resistance barrier, potentially prompting profit-taking activities. Conversely, there exists a possibility for the price to retest the 220 SAR level, transforming it into a support level, having previously served as resistance. To mitigate risks, a prudent approach involves placing a stop loss below the breach point of 200 SAR, as a reversal in momentum may occur subsequent to this breach.
๐ Investment View: Technically Bullish ๐
๐ Quick Info ๐
๐ Entry Range: 220
๐ฏ Targets : 270
โ Stop Loss: 200
โณ Nature of Trade: Long Term (Swing)
๐ Risk & Reward Ratio: 1 : 2.50
๐ฐ Technical View: In the preceding trading week, the price movement successfully breached the significant resistance level of 220 SAR, culminating in a notable total gain of 30.2 SAR (+14.60%) and concluding at 237 SAR. Additionally, the super trend indicator has signaled a bullish momentum within the weekly time frame, further corroborated by the confirmation provided by the MACD indicator. Looking ahead, the former peak at 270 SAR now functions as a resistance barrier, potentially prompting profit-taking activities. Conversely, there exists a possibility for the price to retest the 220 SAR level, transforming it into a support level, having previously served as resistance. To mitigate risks, a prudent approach involves placing a stop loss below the breach point of 200 SAR, as a reversal in momentum may occur subsequent to this breach.
Trade closed manually
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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.