MRDS Major breakout with a success retest As it can be observed from the chart
1- The stock had a clean breakout from a downtrend line formed since 2023 high.
2- The stock retested the trend line after the breakout during the Trump tariff announcement and the stock gained all the loses which is a sign of accumulation in the stock.
3- The stock Just reclaimed 2023 lows with high volume after fake breakout.
4- The stock is currently trading above 100d moving average.
MRDS trade ideas
MRDS- mazaya qatarQSE:MRDS - 19-2-2024
The price movement in the stock is interesting, especially since the stock touched the main trend line from the descending top in may-2023.
Overbought indicators are nearing completion (in the short term)
I think that if speculators succeed in maintaining the liquidity momentum, we will likely see the stock near 1.055 QR levels again.
This vision is considered incorrect if the price break the 0.6 QR levels
thanks and best wishes
Trading view :QQQ121