The Saudi mining company, MAADEN price-action level chart has been performing greatly for us since we first entered after the test of L3 and sold 50% at H2. We resized after successful testing to H3 and our current average is 39.50.
Looking for our interim target to be met at 45 and projecting 48 with possible outperformance to 50. Keep watching!
The classis answer is No!
because of limited growth and sensitive pricing.
However, utility companies like any other company can have change of strategy, management and even product.
Saudi Electric company had recently announced major changes to its governance and strategy by minister of energy himself. The chart tell the story that has been taking place since...
Since 2006, TASI had 3 bear market periods and 2 pull markets ( and currently in the 3rd. )
Each period had lasted (1/2 the time of the previous similar period either bear or pull)
The maximum period was 5 years and the shortest is 10 weeks from today
The closing above 9400 in 8-10 weeks is very positive for targets at 12000 and 15000 points.