ARADEL LONG IDEA ARADEL stock just broke out of a bearish trendline with a strong bullish weekly candle. The candle closure above the trendline and resistance level is an indication that there is a pressure from the buyers to push price higher.
To take advantage of this opportunity, you can buy at the current market price, or you can wait for price to drop to the areas between N545 and N535. The targets are N666 (21.55%) and N850 (55.96%).
Confluences for the buy opportunity:
1. Breakout of bearish trendline sponsored by a bullish trendline.
2. Bullish divergence signal from the awesome oscillator.
3. Candle closure above trendline and resistance level.
Disclaimer: this is not a financial advice. The outcome maybe different from the projection. Don't invest your money on the stock if you're not willing to accept the risk.
