A fall and then a big riseThe stock is currently in a correction phase near the shaded area, including a rise to make a larger and final historical peak before the next major collapse.
1020
1020: Bank Al JaziraPotential Setup
Needs confirmation (Inv. H & S Pattern in formation).
Watchout for Breakout
Short setup can be traded from bottom to the identified trendline
Watchout for breakout
Trade with stoploss
Ride the trend with trailing stop loss
1020 : JAZIRA BANK (a successful trade)We love to show one of our successful trades that have :
1- Performed to targets
2- Within the time frame
3- Tight stop loss (Risk-to-Reward > 10)
4- Confirm our hypothesis about TASI and the major macro trend pull
5- Confirm our approach to trading based on volatility funnels developed by Francis Hunt.
Here is the story,
The chart have been spotted first by one of ours when broke to the 15 SAR in March of 2021 showing high potential for the underlying micro trend to perform.
After we made our analysis, both price targets and time limits have been set on the chart and we entered the trade. The price shot 20 SAR in matter of weeks. But after it took 6 months at around 18 SAR from May to Dec of 2021.
During this time we added more positions and although it was painful to set and wait, the chart never made our stop loss or go beyond the time limit. So we waited .. and waited.
In January of 2022 the price started to move upward and to meet our intermediate target at 27 SAR. We took some profit making us (+44%) for the positioned we added during that long accumulation. But the move is not over yet.
We still have two months to go based on our time analysis and we expect to reach 30 SAR before resting for extended period of time. Hopefully another accumulation that will send the price soaring at 60 SAR. But this is early to say.
We in sharing this, want to spread optimism about TASI : TADAWUL and the Saudi Stock Market. Because we believe if you can find these kind of trades that make you double your money in the span of a year why do you have to trade abroad??
Best,
FBH
Bank Aljazira , professional visionBank Aljazira, professional vision sell this action from your portfolio
(1020) ALJAZIRA BANK Promising TADAWUL:1020 has just entered a decisive area (green area) .
I recommend to wait for a break of that area , that would be a high probability buy signal targeting the 1st target area .
There is a good potential to reach the second target area too if we do close above the 1st target area .
Right now the bullish momentum is slowing down a little so it is possible price returns to around the (22.8) level before breaking above the green area .
If price fails to break above the green area , then a return to the black area would be possible , and would represent a potential buy area.
Aljazirah bank target These are the targets of 1020 aljazirah bank chart.
Be attention to not close below the black horizontal line.
Lets see what will happen
BANK ALJAZIRA ANALYSIS - A STRONG MOVE IS COMING This analysis was based in the price action and we can tell that the next breakout will decide the market movement,
Stay in a watch out position,
Kind regards,
