an interesting buy signal is explained by the breakout of the vwap and a very large volume means that the buyers have entered the market
a buying opportunity national commercial bank
This analysis was based in the price action and we can tell that the next breakout will decide the market movement,
Stay in a watch out position,
Kind regards,
Tasi today gave a nice closing confirming more upside or rather resuming upside after the current small retracement from the recent highs. It also corresponds with FIb retracement levels. Market is ready to move upside and to test the 200 ema very soon. I can predict a J hook pattern which can be very strong up side move. I am bullish on this one. Happy Trading...
No doubt that its in uptrend and making higher highs and higher lows. It broke the resistance last week and the price have come in retest area and is showing good buying as buyers are ready to grab the prices. From here there is a good chance to bouce upside and make new high and make J hook pattern which is very strong upside. I am surely bullish on this market....
Tadawul index is under pressure and in a range after heavy sell off triggered. Its been in this box for a while now and after 2 doji days i think either it should breakup or retrace from here and retest the bottom of the box area. Though still in a range but highly trade able as the range is big and looks juicy. In my opinion it will break up testing the 200 ema...
Recently , TADAWUL:2350 had enough bullish strength to break above the black line .
If we close in an upcoming day considerably above the green area (significantly above the 8.8 ) , this stock would very likely continue up towards the first blue rectangle area at the 9.8-10 area , with an important potential to reach the second target at the secong blue...
