🔹 Chart Structure
The chart shows a long downtrend since 2017, followed by a prolonged base around 0.80–1.00 QAR.
Recently, the stock formed a rounded bottom (cup-like pattern), suggesting accumulation and a potential trend reversal.
Price is now testing the 1.25–1.30 QAR zone, which aligns with the 200-week moving average (blue line) — a key resistance area.
🔹 Moving Averages
50-week MA (orange) has started to turn upward, showing early bullish momentum.
200-week MA (blue) remains above price but is being challenged.
A confirmed golden cross (50-week MA crossing above the 200-week MA) would strengthen the bullish outlook.
🔹 Key Levels
Support: 1.10–1.15 QAR (previous breakout and near the 50-week MA).
Immediate Resistance: 1.30–1.35 QAR (current barrier).
Next Target Zone: 1.50–1.60 QAR (cluster of past highs, marked with green arrows).
Long-term Resistance: 1.80 QAR and above.
The chart shows a long downtrend since 2017, followed by a prolonged base around 0.80–1.00 QAR.
Recently, the stock formed a rounded bottom (cup-like pattern), suggesting accumulation and a potential trend reversal.
Price is now testing the 1.25–1.30 QAR zone, which aligns with the 200-week moving average (blue line) — a key resistance area.
🔹 Moving Averages
50-week MA (orange) has started to turn upward, showing early bullish momentum.
200-week MA (blue) remains above price but is being challenged.
A confirmed golden cross (50-week MA crossing above the 200-week MA) would strengthen the bullish outlook.
🔹 Key Levels
Support: 1.10–1.15 QAR (previous breakout and near the 50-week MA).
Immediate Resistance: 1.30–1.35 QAR (current barrier).
Next Target Zone: 1.50–1.60 QAR (cluster of past highs, marked with green arrows).
Long-term Resistance: 1.80 QAR and above.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.