Trend Etisalat is in a strong downtrend for now, for the last 2 days we are seeing some bounce/short recovery. We cannot trust this move as this can be a correction phase of this massive drop to the downside. We wait for a proper bullish price action to take any position. Fib Level Watch out 50% Fib level area if we see rejection candles around that area it...
The fourth wave is a sharp and deep zigzag corrective pattern.. The stock moves in its last wave C and exactly we can say in the third of C. after finishing this wave we will go up in a temporrary up wave 4 then go down in a final drop wave 5 , which is the end of C of the zigzag corrective pattern and the end of the fourth major.
Etisalat since listing Monthly chart Its current decline is a major fourth wave that overlapped with the first, which turned its overall rising cycle into a complex diagonal wave, the target of which is the fifth, which will have multiple possibilities. Important question: What is the analysis of the fourth wave and where it will be end? 👇
ADX:EAND In this post, I am featuring a multi-year investment opportunity. An opportunity to make 100% return over 2 years. This idea is for my investment account. It is for growing money steadily over time for retirement. If you are looking for a trade, then this is probably too slow for you. Etisalat is a company whose sales are 10% of the UAE’s GDP....
EAND , AbuDhabi, On the daily chart, the stock is moving down towards the bottom channel support line, at 20.9 - 20.8 The buying power should appear at this level, to rebound to 23.3, build support, then target 25.4 Above 25.4 with large volume will push the stock to target 29.6 Note: STOP loss at the bottom support red line with 2-3% buffer or high volume.
UAE EAND has positive technical indicators for uptrend on daily chart