Technical analysis of Boali shares in Mehr 1402 / Fatal crossroads! – Tejarat News

According to Tejarat News, Boali Sina Petrochemical Company is tradable under the symbol “Boali” in the second market of the stock exchange. Bo Ali shares with a market value of 70 thousand 487 billion Tomans are in the chemical products group.

The analysis of the trading board of “Boali” shows that the behavior of the price of this share takes place with a short pause in the direction of the suspicious movements of the shares’ rights. Therefore, whenever the rights start to buy heavily, a little later, the share of floor swings made in its chart has given good returns to the shareholders. Therefore, in order to recognize the validity of the upward wave, it is very important to examine the legal behavior of the share.

Technical analysis of chemical index

In the weekly dimensions, identifying the major structure in the chemical group index chart helps a lot to identify the trend. After the deep reform of this industry, which occurred simultaneously with the collapse of the market in 1999, a new trend started in the chemical group in the middle of March of the same year. The structures specified in the index chart of this industry show that the index of this group is bullish.

Also, the emerging structures show that the corrective waves of the mentioned trend are very similar to each other. So that this index ended during the recent correction of the market from the middle of May of this year as soon as it reached the size of the previous correction, and the indicator of the group of chemical symbols started to make higher ceilings and floors.

The drawing of the Andrews fork tool in the pullback style shows that this indicator measured the level of support of the buyers by testing and then re-testing the middle line, and after that it was thrown upwards. If the last floor is maintained in the range of 152 thousand units, the indicator of the group of chemical symbols has the target of reaching the ceiling of the Andrews fork.

Therefore, it can be claimed that the three previous reform waves are from the same family. On the other hand, the slope of the first wave of this upward trend is very similar to the last upward wave of the market that started in November 1401. Therefore, this point can be used to draw the Andrews fork.

Based on this drawing, if the weekly candle of this indicator closes above the middle line, it has a great chance for the index to grow to a high parallel. This means that the index has crossed its previous ceiling.

Technical analysis of Bo Ali shares

A look at the Bo Ali stock price chart in the monthly timeframe shows that since June 1400, there are fewer months when the Bo Ali stock price ended with a red candle and a price drop.

The rapid growth of Bo Ali symbol, from June 1400 to the peak price of this company’s stock in May of this year, gave more than 670% growth to its shareholders.

Currently, the price is stuck between a static range (five thousand 326 to five thousand 593 tomans) from the top and a dynamic level from the bottom and is approaching the last compression prices. The popular scenario of stock players in such a situation is the breaking of the dynamic line by the price, from the bottom side, and then returning to the top and breaking the ceiling of the triangle.

On the other hand, the drawing of an Andrews fork using the PBML method shows the repetition of the largest correction size in the Bo Ali Sina petrochemical price chart, during the recent correction process that started in May. Breaking the previous ceiling and stabilizing the price above this range provides a buying trigger for active conservative shareholders and expectations for another bullish momentum log.

Newton believes that objects tend to maintain their state of rest or uniform motion. This issue can be extended to financial markets as well. Accordingly, major trends are expected to continue.

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