Current price: 37.25
Key point: 36.10
Our preferred direction: buy positions at the highest levels of 36.10, targeting 38.15 as the first target, then 38.45 as the second target.
Alternative scenario: stop loss and change the trend by breaking the 36.10 level, targeting 35.00 levels
Technical commentary
Bank Albilad stock with code number 1140 is moving in a downward direction on the daily frame from the peak of last July until it rose from the pivotal support levels 35.20-36.10.
This area corresponds to the ALT BAT harmonic pattern with a 113% Fibonacci retracement of the XA leg, at these same levels.
The stock is expected to rise to levels of 38.15-38.45
