Shaker TADAWUL:1214 continued to rise after spotted RSI divergence.
Price has crossed resistance points 21.12 and 21.54 and now trying to reach 3rd point at 22.86 which intersects with the lower trend and resistance point at RSI.
In case of breakout the following are potential targets 24.74 channel point and 27.12 point of triangle breakout
Hello ladies and gentlemen, according to my chart analysis of Aramco stock, I recommend to keep Saudi Aramco shares in your portfolio because there is a high probability of reaching over 42.00 in the next few months God willing.
I think Al Rajhi is running in corrective wave (4) and it is mostly FLAT.
Now subwave (A) is finish and it is about to rise again to the target zone (105-110) SR to finish subwave (B).
After that it will make final drop to the target zone (84-86) SR to complete its correction.
Once correction is done, it is expected to go up in wave (5).
target reached for bearish head and shoulders. target reached for bearish triangle. potential RSI divergence.
Logarithmic and Fibonacci multiples and important points with possible targets are indicated on the chart.