1211 Technical, Geopolitical newsCombining your Elliott Wave analysis with the fundamental catalyst of the US-Saudi strategic cooperation creates an exceptionally strong, high-conviction bullish case for Ma'aden (1211).
🎯 Confirming the SAR 72 Target
The premise is:
Technical Indicator: Ma'aden (1211) is currently in the 5th (final) wave of a larger Elliott Wave impulse move.
Price Target: The calculated target for this wave is SAR 72.
Fundamental Catalyst: The MBS-signed US cooperation deal on energy/minerals provides the impetus to complete this 5th wave and potentially exceed it.
The SAR 72 target aligns strongly with the upper end of analyst estimates and recent technical observations, which cite the SAR 70 to SAR 80 range as a breakout potential.
🌊 The Elliott Wave Bullish Narrative for 1211
Under the Elliott Wave Principle, the 5th wave is the final leg in the direction of the main trend and is often the most emotionally driven and headline-fueled.
1. The Trigger for Wave 5: The Catalyst
The US-Saudi cooperation is the perfect news catalyst to initiate or dramatically accelerate the final 5th wave thrust:
Fundamental Justification: The deal validates Ma'aden's entire long-term strategy (Vision 2030 mining pillar) and adds a powerful Western ally/customer. This provides the fundamental reason for the final price surge.
Massive Volume: The news attracts large institutional capital (local and foreign), which provides the buying volume necessary to drive the stock through key resistance levels (the end of wave 4 correction).
2. The Mechanics of Wave 5 (Target SAR 72)
The Breakout: The price forcefully breaks past the high of Wave 3 and the key resistance area around the previous 52-week high (historically in the SAR 68.45 area based on recent data).
The Measure: Elliott Wave typically uses Fibonacci extensions to project Wave 5. The SAR 72 target is highly probable as it often corresponds to a 0.618 or 1.0 extension of the preceding waves. The momentum from the news helps guarantee this level is achieved.
Investor Psychology: The rally is fueled by FOMO (Fear of Missing Out). Investors who missed the earlier waves pile in, seeing a "globally strategic" stock suddenly given official US backing, ensuring the momentum carries the price to the final technical target.
