Hello everyone,
I would like to share my analysis of this stock, which I have been following since September 2022. The price is currently in a zone that has a high probability of initiating a countertrend and starting an upward movement. I see the downside target at 16.46.
Please note that the current time might not be the best for entry, but I decided to share...
📊 Chemanol
📈Retesting a very important support level at 17 SR and if succeeded breaking out double bottom pattern, it will achieve a 127% increase
🏷️The current price is 17.38 riyals
🏹Goals start from 20 to 50 riyals
🎯The next goal is 20 riyals if able to rebound from the current support level
Good luck
🤝Please do not forget to support, cheers, likes, comments...
in the annual time-frame:
if we assume this correction to be the 4th phase of an elliot move
then this wave should not enter the domain of the 1st wave
and I expect the correction to end very soon.
Methanol has not experienced much price correction
I expect another 41% drop in the price in the medium run of the time.
there is a red aggregate of ichi cloud below that is untouched by the price & it idicates that the price has an inclination to see that level.
Its in downtrend, making lower highs and lower lows. From 2 days bulls are trying to push price upwards.
# Bearish Indicators
- Downtrend LH & LL
# Bullish Indicators
- Hammer candle
- Bounce from Trendline support
# Trade Plan
👉 Entry: 25.3
💰 TP: 26.03
🚫 SL: 23.77
Hello ladies and gentlemen, according to my graphical analysis of METHANOL CHEMICALS CO ,I recommended to close all long position in your portfolio because 2001 stock is showing a sell signal so this is the best time to close all long position in portfolio!
very nice stock in a strong bull run also it hit 52 weeks high. Once a stock hits all time high there are very good chances that it will continue flying higher. If from Sunday over all market is positive this stock will surely grab many eye balls and go up. Very Bullish!!!!
Hit like & follow guys ;)
Hello Traders;
As you can read from my chart, we might be at the end of Wave 2 and possible wave 3 starts; placing a buy stop on 8.06 SAR with loss top on 7.78 SAR. Wave 3 is only confirmed when a new high is achieved :)
Happy freaking trading :)
