Current price: 15
Key point: 15.50
Our preferred direction: buy positions above the 15.50 level, targeting 16.35 as the first target, then 17.20 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 15.50 level, targeting 13.40 levels
Technical commentary
Dar Al Arkan stock with code number 4300 is moving upward on the daily time frame from the middle of this month, after bouncing from the support levels 14.00-14.40 and forming a harmonic ALT BAT pattern with a 113% Fibonacci retracement of the XA leg.
The price is currently facing resistance levels at the 15.15-15.50 area, which if it can withstand and break through the highest level, it will be a good opportunity for the stock to reach 16.35 levels and then 17.20 levels.
