Taqa ADX should rebound from this levelDaily chart, the stock ADX:TAQA is still pushing downwards but the rate has slowed down.
RSI is getting in the over-sold zone.
So, I expect the rebound will start soon - may be in 2 weeks.
Note the stop loss line. It is important to decide your own stop loss or profit protection level.
TAQA trade ideas
AbuDhabi TAQA to target 4.4 after crossing resistanceDaily chart, the stock (TAQA) crossed a rising small channel (GREEN area), and is still trading inside a bigger channel, and is most likely to cross the resistance (at around 3.70)
After crossing resistance (BLUE) line, the target will be 4.40
Technical indicators RSI and MACD are positive.
Taqa Probability No.1 (Bullish View)ADX:TAQA
A clear impulse wave moving inside range as extended wave 3. Now wave 3 never be the shortest one in all three impulse wave ( Wave 1,3,5).
As I observed wave 3 is shortest in price range than wave 1 as I highlighted with grey price range to measure length of wave 1 with wave 3. So, the probabilities are that wave 5 would be shorter than wave 3. How much it should be shorter than wave 3 I highlighted it with red price range which is length of wave 3. Possible target is 7.57/- and then stock will reverse.
Its a PAINTrend
Its been just going side was for ages now, once it breaks 3.46 and closes above with good volumes thats when we can have a trend confirmation. With last weeks closing its looking weak.
Breakout
Once we see a confirmed breakout that's when we can plan out buys for now its in a no trading zone it can retest support 1 and support 2 area. Also the have announced bonds that got listed on ADX this stock is looking good.
Hit like & follow guys ;)