Abo Moati (4191)
since December 22 till now Abo Moati begins a bullish move, moreover, on 29 March there was a change of character on daily timeframe.
Now, it is about to finish the fourth wave as an irregular flat (ABC).
TP is set as wave 5 target between 40-44
SL 30 in which wave 1 ends
it has re-tested the downtrend line but got rejected thats why i expect a drop in the price , it might retest it another time if it break the trend line it would go up to the mentioned targets in green but if it fails it will drop to the purple rectangle as an interest area of demand
The share could potentially reach 64.23, however there is upside resistance at 42.36 - alert for bearish signals.
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
