Potential Rebound on Abu Dhabi Aviation โ Technical Setup Near KTechnical analysis for Abu Dhabi Aviation (ADX:ADAVIATION)
The stock is currently trading near a strong support zone between 5.48 and 5.60 AED, a level that previously triggered a sharp bullish move.
With selling momentum weakening and price stabilizing, thereโs a potential for a new bounce if bullish confirmation appears.
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Key Technical Highlights:
โข Fibonacci retracement from 5.48 to 6.64 shows price hovering near the 78.6% level โ a classic reversal zone.
โข RSI is in neutral territory, suggesting balanced momentum.
โข MACD is flattening, with a possible bullish crossover building up.
โข Volume Profile shows significant accumulation around 5.60 AED.
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Bullish Scenario:
If the stock breaks above 5.98 AED, this may trigger a move toward:
โข 6.16 AED
โข 6.40 AED
โข Potential extension to 6.70 AED
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Bearish Scenario:
A confirmed break below 5.48 AED would invalidate the bullish setup.
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Disclaimer: This is not a buy or sell recommendation. This analysis is for educational and informational purposes only.
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