JARIR: An Emerging Trend?A purely technical analysis on this one, but It seems a new trend is emerging. I initially drew an ascending triangle , but there seems to be a lot of respect for the 140-142 resistance. One could argue that a head and shoulders trend could be drawn, which is generally not seen as good. Now, Q2 is almost over, Saudi has recently opened up shops, but the profit reports will be public data soon with an expected drop in sales naturally, so a lot of variables to consider. Neither buyers nor sellers are taking control, however, if I was a betting man, I'd bet this would go down purely based on trendology, then we could build scenarios depending on whether it goes to the slanted support, or the flat support. Comment or share your ideas, and lets learn together!
