Saudi Wire, with code number 1301, has been moving in an upward direction since last November, as it climbed to 22.00 levels to achieve more than 8 riyals
Then it goes down from there due to the presence of a reversal pattern which is the head and shoulders with a negative divergence on the RSI
The model finally achieved its target in Al-Aboot and reached a support area at 15.40-14.00 levels where the rise was initiated, with the Harmonic Bat model having a correction of 88% Fibonacci retracement of the leg xa
With RSI oversold, the stock is expected to rise again to 20.00 levels
The trading range is 15.40-14.00
Expected bullish trend
