I am bullish on 4031, a company that provides ground handling services to airlines in Saudi Arabia. The stock is in a strong uptrend, as shown by the higher highs and higher lows on the daily chart.
- The stock has recently broken above a trend line resistance that was acting as a barrier since November 2023. It is also trading above the key moving averages of 50, 100, and 200 days, indicating a positive momentum and trend strength.
- I think a good entry point would be around 42 SAR, if the stock retraces to test the trend line support or the 50-day moving average. This would offer a favorable risk-reward ratio and a potential upside of about 20% to the recent high of 50.4 SAR.
- I would place a stop loss below the trend line support or the 100-day moving average, whichever is lower, to protect my capital in case of a reversal. I would also monitor the volume and the RSI for confirmation of the bullish trend and the breakout.
- This is my personal opinion and not a financial advice. Please do your own research and analysis before investing. Happy trading! 😊
- The stock has recently broken above a trend line resistance that was acting as a barrier since November 2023. It is also trading above the key moving averages of 50, 100, and 200 days, indicating a positive momentum and trend strength.
- I think a good entry point would be around 42 SAR, if the stock retraces to test the trend line support or the 50-day moving average. This would offer a favorable risk-reward ratio and a potential upside of about 20% to the recent high of 50.4 SAR.
- I would place a stop loss below the trend line support or the 100-day moving average, whichever is lower, to protect my capital in case of a reversal. I would also monitor the volume and the RSI for confirmation of the bullish trend and the breakout.
- This is my personal opinion and not a financial advice. Please do your own research and analysis before investing. Happy trading! 😊