BILDCO 1H - RSI Divergence, ABC Correction Ending? Time to Buy?📈 BILDCO 1H - ABC Correction Ending? Time to Buy? 🚀
Market Overview
Abu Dhabi National Co. for Building Materials (BILDCO) has experienced a strong rally since Mid 2024, reaching a high of 1.34, before correcting sharply.
- The stock has now completed an ABC corrective pattern, with Wave C touching a major demand zone around 0.9546 - 0.9906.
- RSI bullish divergence detected, signaling potential exhaustion of selling pressure.
This could be the right time to accumulate positions as a new impulsive wave may be starting.
- A breakout above 1.12 could confirm a new bullish impulsive wave.
📉 RSI Divergence & Momentum Shift
-Bullish RSI Divergence formed at demand zone, indicating potential trend reversal.
- The RSI has crossed above 30 and is testing the 40 level, signaling that momentum may be shifting bullish.
- If RSI moves above 50, expect strong buying pressure.
📌 Trade Setup:
✅ Entry:1.12 (BOS)
🔻 Stop Loss: Below 0.95(invalidation of demand zone)
⚖️ **Risk-Reward Ratio: 1:4+ (solid trade setup)
⚡ Key Levels to Watch:
✅ Bullish Confirmation:
- Break above 1.12 = Trend reversal confirmed
🚨 Bearish Risks:
- Rejection at 1.10 could cause a pullback.
- A drop below 0.95invalidates the bullish setup.
"Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble." – Warren Buffett
🚨 Disclaimer: This is not financial advice. Always do your own research and manage risk accordingly. 🚨
