ADX:ADNOCDIST is approaching a breakout level at 3.74 AED which is neckline of the a double bottom and above the 200 MA. Either long the break out with stop daily close below the 50 MA or enter at 3.65~3.66 AED if the stock rejects from 200 MA with a tight stop daily close below 50 MA. Not financial advice, my view only
Adnoc distribution is holding up well right at the support zone and I think its ready for a new leg to the upside. It has established its base at 3.70 and now its gearing up for the move. Overall this stock is still in a downtrend BUT its trying hard for the reversal. If at all we can see a closing above 3.90 then we can say that now price is in bulls territory....
On ADNOCDIST as you see on the chart we will have a hight probability to have an uptrend because we have many springs effects on vwap and the support line.Thanks!
Abu Dhabi Market: Supported by the technical indicators RSI and MACD, On the daily chart, ADNOCDIST is moving in an ascending channel, where next target is 3.85, then 4.10. Crossing 4.15 - 4.20 will push the stock to target 4.52 in 3 months. Stop loss should be considered.
On ADNOCDIST as you see on the chart we will have a big probability to have an uptrend if only if we have the breakout with force the vwap indicator and the resistance line by a big green candle follow by a large green volume.Thanks!
This stock is starting a fresh trend, its always better to catch a trend right from the bottom. This is exactly what we are seeing. I think its ready to go higher from here. Catch it!! Hit like & follow guys ;)
Hi Abu Dhabi National Oil Company (ADNOCDIST) ready for Jump ENTRY:4.28 SL:4.20 TP1:4.75 RR=10% for First TP
Its very bullish we mite see some weakness at current levels but over all this is very bullish and very soon it will hit 5.00 ride this move. Any dip from now is a buying opportunity! Hit like & follow guys ;)