2290 Bullish Wolfe WaveA clean bullish Wolfe Wave setup is emerging, with price action completing the fifth wave just outside the channel – a typical trap zone before reversal.
Wave 5 shows early signs of a bullish reaction, suggesting a potential move toward the target line drawn from points (1) to (4).
2290 trade ideas
Yanbu Petrochem (2290) to target 47.5 after crossing resistanceDaily chart, the stock is about to cross the resistance up, and then will go bullish to target 47.5, passing through some minor resistance levels as shown on the chart.
Technical indicators:
MACD is about to cross up zero line - positive
RSI is positive
Expecting Harmonic Pattern Expecting %78.60 fibo-correction point (C) of wave (AB) @ 48.81 SAR. which meet the bottom of uptrend yellow channel within next week. (Also it is weekly demand zone).
Then probably %127.00 fibo-target point (D) of wave (BC) @ 96.68 SAR. which create a perfect hamonic price pattern where the target meet at tge middle of both uptrend yellow-blue channels at the end of February 2024.
Sincerely.
Note: buy&sell is always you're business nobody else.