Current price: 11.14
Key point: 10.15
Our preferred direction: buy positions at the highest level of 10.15, targeting 11.50 as the first target, then 12.00 as the second target.
Alternative scenario: stop loss and change the trend by breaking the 10.15 level, targeting 9.80 levels
Technical commentary
Sadaq stock with code number 2130 is moving in a downward direction on the daily frame from the peak of last July until it reached the support levels 9.90-10.15, and then it penetrated the downward trend line, forming an ascending price channel from last month’s bottom.
With the formation of a harmonic pattern, the rise will be expected to continue to the next resistance levels at 11.50-11.75 at the 200-day moving average.
