6010 NADECHello traders, The National Agricultural Development Company (NADEC) is one of the clear companies in Saudi market. Now: 29 with stop loss: 28 and the next target is 32.6 SAR. Good luck for allLongby Dr_Mohammed_Sunbul0
ABCD Pattern is completed around 36ABCD Pattern is completed around 36 & we can see clear Bearish Divergences that played well. 25.90 - 26.50 can be an Immediate Support. However, Stock is in Bearish Trend and continuously making LL LHs. Next Good Support can be around 22.70 - 23.30 Crossing & Sustaining 28 may lead it towards 29.50 - 30 by House-of-Technicals1
LL on Daily TFTo Continue the Bullish Trend, it should cross & sustained 36.10; the target would then be around 44 - 45. Recently, it made a LL on Daily TF. Now 32.60 - 33 should be Sustained, otherwise the price will move further down towards 29.80by House-of-Technicals1
Bullish on Bigger Time Frames However, Bearish Divergence is also Observed on Weekly TF ABCD pattern completes around 35 - 36 along-with bearish divergence makes this level bit shaky at the moment for new entrants. 32 - 33 Levels may act as Support but we Need some Confirmation there. However, Crossing & Sustain 36 would move it Further Up; may be up to 39 initially & then 44 - 45 by House-of-Technicals110
6010| NATIONAL AGRICULTURAL DEVELOPNATIONAL AGRICULTURAL DEVELOP Nadec New ATH! Next targets at 40> 55> 70>90>105 SR(250%) Good luck! Please dont forget to boost, comment and like!Longby SaudiStockSail8
NADEC has shown weakness and formed a top H&Ss NADEC has just formed a top H&Ss though its neckline is slightly up-slanted which some chartists don't take for consideration. It still follows most of the formation principles such as the spike in volume corresponding head and the shoulders. To sum up my readings which could be wrong sometimes. weaknesses: 1- parabolic move is broken down! see the arrow in chart 2- Within the major H&Ss formation, a minor "right angle triangle" is formed which in many cases is bearish considering the decreasing heights. 3- Corrective Wave III is on the run and it is usually very very aggressive. strength: 1. Fundamentally, the company has improved its net-profit. 2. Corrective wave C is formed and either it goes on or revers but usually the latter. I don't mean to bore you with my analysis, but if you want to short it, wait till the yellow-highlighted support as seen in chart is broken down with some volume then you get the confirmation. Shortby gamall1987Updated 4