Get started

Candlestick Analysis

SADR LOGISTICS CO (4H Timeframe) Technical AnalysisSADR LOGISTICS CO (4H Timeframe) Technical Analysis Price Movements and Structure: SADR Logistics' price action shows clear zig-zag patterns, illustrating the ups and downs in the recent market movement. The price has made a series of higher highs and higher lows, suggesting an overall upward trend with minor corrections along the way. The price is currently trading around SAR 3.76 , having recently peaked at SAR 3.83 . The recent surge to SAR 3.83 shows a continuation of the uptrend, supported by significant buying volume. Key Levels to Watch: Support Levels: SAR 3.55 : This level acts as a recent minor support, observed after a slight pullback following the peak at SAR 3.83. If price revisits this level and holds, it could provide a strong foundation for further upside. SAR 3.21 - 3.26 : This zone has previously acted as a solid area of support, evidenced by significant rebounds, which indicate buying interest around these levels. Resistance Levels: SAR 3.83 : This is the immediate resistance level that the price has to overcome to maintain the bullish trajectory. SAR 3.77 and SAR 3.65 : These previous highs can also act as minor resistance if the price retreats, highlighting their relevance in the recent trend. Zig-Zag Indicator Analysis: The chart has a zig-zag indicator drawn, helping us visualize the turning points of the market. The zig-zag movements reflect the price’s natural ebb and flow, with notable pullbacks after reaching new highs. The recent upward zig-zag pattern from SAR 3.04 to SAR 3.83 indicates significant buying strength, implying that the market has some bullish sentiment still in place. Volume Analysis: Recent price increases have been supported by higher volume, particularly the rise to SAR 3.77 and SAR 3.83. This indicates strong interest from buyers. On pullbacks (e.g., at SAR 3.26 and SAR 3.21), the volume was also relatively high, suggesting buyers are stepping in to support the price. This could indicate accumulation in these zones. Possible Scenarios and Expectations: Bullish Scenario (Confirmation Required): If SADR Logistics manages to break above SAR 3.83 with strong bullish momentum and increasing volume, it may head towards the next psychological resistance around SAR 4.00 . A breakout above SAR 3.83 with confirmation (i.e., a retest that holds or a strong bullish candle with high volume) could indicate a continuation of the upward trend. Confirmation Signal: Look for a strong bullish candlestick formation and increased volume at or above SAR 3.83 to confirm the bullish breakout. If the retest of SAR 3.83 holds, it would further strengthen the potential for upward movement. Bearish Scenario (Risk Considerations): If the price fails to hold above SAR 3.76 and breaks below the SAR 3.55 support level, it could lead to a deeper correction towards SAR 3.26 - 3.21 . This level has previously provided support, but any break below it could weaken the overall bullish structure. Confirmation Signal: A close below SAR 3.55 with increasing bearish volume could signal a move towards SAR 3.21. Traders should watch for significant selling pressure and a lack of bullish response at support to confirm further downside potential. Technical Indicators and Risk Management: Trend Strength: With the price trading above previous resistance levels, the trend remains bullish for now. However, the presence of a double top or failure to make a new high above SAR 3.83 could signal a potential trend reversal. Risk Management: It is crucial to have well-defined risk parameters, such as setting a stop loss below key support levels (e.g., SAR 3.55 or SAR 3.21), to minimize exposure in case the market reverses against expectations. Summary: SADR Logistics is in an upward trend with notable higher highs and higher lows, but it is currently facing resistance at SAR 3.83 . Bullish Scenario: A breakout above SAR 3.83 with confirmation could signal a continuation to new highs, with SAR 4.00 as the next target. Bearish Scenario: A break below SAR 3.55 might see the price retrace towards the SAR 3.26 - 3.21 area, which could be a buying opportunity if support holds. Disclaimer: This analysis is for informational purposes only and should not be taken as financial advice. Always conduct your own research (DYOR) before making any trading decisions. This is not a buy or sell recommendation, and risk management should always be a priority when trading.
TADAWUL:1832
by hansonju
Very weak candle more pain may be in store for Nifty. Today we saw a confirmation of a pattern similar to head and shoulders pattern. The pattern is not exactly the classic head and shoulder but it is similar which can yield similar break down results meaning more pain might be in store if next 2 support levels are broken. The low of August 5 that is 24055 will be vital zone for Nifty to take support and make a comeback. There are 2 weak supports before we reach that level. These supports are near support previous to that at 24407 and 24113. If by chance 24055 is broken the next support is there near 23811 followed by 200 days EMA (Father line) at 23428. Below this level there is pure bear territory as this chart is drawn on daily candle sticks. On the upper side the resistances that Nifty will now face are at 24711 (Strong resistance along with a trend line resistance). If this resistance will be crossed the next resistance is at 24879. By chance we get a closing above this level Mid channel resistance and Mother line resistance of 50 days EMA awaits us near 24995 and 25231 respectively. The Macros of Israel Vs Iran++, US Elections and China stimulus are the major factors affecting FII outflow. Indian Growth story remains intact sectoral churning near the bottom is a real possibility. Overbought sectors of Defense and PSU in addition to some Mid and Small caps are taking most of the beating. At some point their PE will become attractive and at some point their dividend yield will also attract investors. whether that point has arrived or will arrive soon is yet to be known. There are no signals of bottom formation as of now and Shadow of the candle remains negative.
NSE:NIFTY
by Happy_Candles_Investment
1
Gold (XAUUSD) - Aiming For Low Hanging FruitsGold has been on a TEARRR for the beginning of October, making gains of up to 5% within the space of 1.5 weeks! When accumulating Gold, its best to purchase in a discount (in this case, Gold's discounted price is below $2,690*) but with this raging bull momentum rolling over all short sellers, it's challenging to expect this in the near future. Analysing short term plays, $2,740 - $2,750 are reasonable targets for longs to take their profits if already in a long. If waiting to enter, I would look out for a sweep below STL's
FX_IDC:XAUUSDLong
by LegendSince
Bitcoin (BTCUSD) - $70,000 In The MakingsIt's evident that Bitcoin has not been performing with the same strong flames like Gold, S&P, and Nasdaq as these assets have recently booked all-time high prices whilst Bitcoin is still rangebound between the $50k - $71k mark. However, BTC is up 40%* from the lows, printed on Aug 5th 2024 with the chance of a continued run higher upto $70k - $71k especially if index futures market continues it's bull run. Note Nasdaq and BTC. Correlation is not strong but whenever one goes up, the other follows.
Long
by LegendSince
Dollar Index - Busy Week Ahead. Expect VolatilityFor over 2 weeks, dollar index has been bullish, rallying up to the weekly objective of 103.546 - 104.080 fair value gap whilst also pinging off the daily bearish order block. Bearishness this week down to the most local imbalance @ 103.444 - 103.345 (T1) and 102.993 - 103.031 (T2) would be considered a healthy retracement in the grand scheme of the bull run. Have you not noticed that as the FED and other central banks lower their interest rates (effectively making their money to borrow cheaper) lead to a low resistance liquidity run. Monday - 2 medium events Tuesday - 4 medium, 1 High event Wednesday - 3 Medium - 5 High event Thursday - 4 Medium, 9 High event Friday - 5 medium, 2 High events
TVC:DXYShort
by LegendSince