Current price: 43.55
Key point: 42.90
Our preferred direction: buying positions above 42.90 levels, targeting 45 as a first target, then 47.80 as a second target.
Alternative scenario: stop loss and change direction by breaking 42.90, targeting 40 levels
Technical commentary
Wafra stock, code #2100, is moving in a strong bullish trend over the daily timeframe, breaching the resistance levels 42.90 and the upper boundary of the bullish price point from the current year's low.
Some downside correction for the stock is expected for the aforementioned resistance levels that turned into support, and then a continuation of the rise to 43.35 levels, then 47.85 levels
