Khasapa’s technical analysis / Do cars charge the stock market? – Tejarat News

According to Tejarat News, a look at Khasapa’s price chart shows that after growing more than 150% in the last 6 months, with the increase in supply pressure, it formed its downward lag since the middle of May this year.

Now this question is raised, how far will the value of Khasapa shares go down and at what price will this car share be supported?

Khasapa technical analysis

Examining Khasapa’s behavior at the support levels shows that the stock does not rely on the previous ceiling of the upward trend to start the upward lag, and to some extent activates the loss limit of the oscillators and then enters the upward phase.

But as it is clear in the chart, Khasapa reacted well to the 61.8% Fibonacci retracement level, and big money gathered Khasapa shares in the price range of 200 Tomans and started Khasapa’s upward trend with positive pullback.

Even now, we can take an example from this behavior of the share and pay attention to the balance of 61.8% while drawing the support range of the previous ceiling. The drawing of these two mentioned elements clearly shows that the mentioned Fibonacci level overlaps well with the previous ceiling. Now it can be said that the range of 270 to 280 tomans is the most important support for the share for the entry of big money into Khasapa. If the share is supported in this range, Khasapa has a resistance range of 327 to 340 Tomans in order to continue its upward trend.

But if Khasapa does not react to this range, it will be somewhat difficult to continue the upward trend. Because the important support of the share in case of losing the range of 270 to 280 tomans is the level of 238 tomans, which is very close to the previous floor of the upward trend. Because if any negative event occurs in the range of 238 Tomans, the loss of the previous bottom is not far from expected and the upward trend of the share will be lost. So that a cheaper floor is formed from the previous floor.

It should be noted that if the support range of 270-280 is broken, as long as the newly formed floor is not lower than the previous floor, the upward trend of the share will be maintained. But it should be noted that the deeper and longer the Khasapa correction becomes, the upward trend of Khasapa weakens.

Is the stock market looking for Khasapa?

As it was said before, the point that should be noted in the technical analysis of large market shares, including Khasapa and Khodro, is their role as a leader. Willingly or not, the stock behavior of two automobile companies, despite the identification of heavy accumulated losses and the strange situation of financial statements, affect the stock market. Therefore, it can be said that if these two shares are supported, the market will revive and recharge to some extent.

In this way, it should be said that in the event of an optimistic scenario for Khasapa and the support of the share in the limit of 270-280 Tomans, the total index can follow its leader and return within the range of 2 million and 100 thousand units (ceiling of 99).

But copying the behavior of the stock market from the trend of the dollar is an inseparable part of the capital market. It should be noted that the dollar has lost the channel of 50 thousand tomans and is recording lower prices day by day. As such, the loss of the aforementioned supports for Khasapa and the overall index is not far off. Of course, it should be noted that this will happen if the downward trend of the dollar continues.