By following the analysis of Raydan stock through the stock chart, we notice the beginning of the stock’s upward trend after bouncing from the support point formed at the level of 11 riyals. The stock recorded its first peak after the rebound at the resistance level of 27.60 riyals, and then the stock declined to the level of 19 riyals to rebound from it. Once again to the level of 27.80 riyals, but it was not able to penetrate it, so it fell to the level of 29 and rebounded from it to the area of 32.75 riyals. Then the stock fell to the support area of 17.66 riyals and rebounded from it to the area of 23.78 riyals, then it retreated for the last time to the area of 14.10 riyals.
توقعات سهم ريدانRaydan stock is currently trading near the potential reversal area of the harmonic pattern, and Raydan stock is expected to reflect positively if the support level of 13.65 riyals remains stable, after which it will target the 17.40 riyal area.
As for the technical indicator for analyzing Raydan stock trading, it shows a negative reflection on the movement of the indicator. This supports the proposed expectations for Raydan stock to remain negative by breaking the support point of 13.65 riyals.
Due to Raydan Sahm's movement in the downward direction over the short term, there are tips to keep the stock and activate the stop order in the event that the stock succeeds in breaking the support level of 13.9, as well as stop the loss when the resistance level of 13.9 is broken, while the current target for the stock is 14.94.
Topic: Raydan stock technical analysis (Read 75 times)