Maaden stock is showing a tendency to cross the channel upwards, supported by the technical. indicators RSI and MACD.
On the daily chart, after crossing 38.4, the target will be 43.2 then 45.1
Stop loss should be considered.
Price accumulating at top of Traingle Top for few days
Watch for breakout
Entry with good Risk Reward Ratio can be taken:
Now (Aggressive)
After Breakout (Conservative)
TP levels are identified
Enjoy the ride with trailing stop loss
Bullish Indications
1- Bullish AB=CD complete @ 66.90
2- Major support @ 66.90
Bearish Indications
1- Dow: Series of LL and LH following downtrend
2- Trendline support
Plan A
Short @current price SL @ 72
TP1@66.90
TP2@62.90
Plan B
Long @66.90
TP1 75.90
TADAWUL:1211
The Saudi mining company, MAADEN price-action level chart has been performing greatly for us since we first entered after the test of L3 and sold 50% at H2. We resized after successful testing to H3 and our current average is 39.50.
Looking for our interim target to be met at 45 and projecting 48 with possible outperformance to 50. Keep watching!
