TASE may form a correction before rally againHi everyone !
Imho the bulls are taking profit from the strong recovery now that price reached the target of the V shape pattern, and it surely could be the beginning short term reversal. Red candle are quite big which mean there is some bearish momentum so that's confirming this hypothesis.
we should see price droping as deep as 1400 since it is 0.618(it never achieved that kind of pullback since the opening of this index, if actual datas are reliable), and it definitely could be a great opportunity to buy some Israelian stocks while price will fly to new ATH.
waiting impatiently for this!
Is this the time to buy Leumi?Leumi is the second largest bank in Israel.
He has a huge client portfolio with which he carries out an imaginary amount of transactions, one that affects the entire lifespan of Israel.
Those who followed the price action at the outbreak of the corona crisis saw the opportunity of buying a great bank for a cheap price.
By looking on the daily chart you can see how the price made a "kiss and go" pattern:
The new low price kissed the previous higher and than made a reversal and start climbing for new high.
BTW, the volumes are supports this move.
This pattern has a strong level of significance. I think Leumi is now a wonderful opportunity.
