Current price: 33.75
Key point: 33.20
Our preferred direction: buy positions at the highest levels of 33.20, targeting 34.05 as the first target, then 34.90 as the second target.
Alternative scenario: stop loss and change the trend by breaking the 33.20 level, targeting 32.75 levels
Technical commentary
Aramco stock, code number 2222, has been moving in a sideways direction on the daily time frame since last August.
The stock rose from support levels for the sideways trend in the 33.20-33.00 area and above the rising trend line from the bottom of last June.
It is expected that the price will rise to the levels of 34.90-35.10 when the falling wedge breaks above.
