Technical analysis of “High Web” stocks in September 1402 / Will the price of “High Web” reach the previous ceiling?
According to Tejarat News, Data Gostar Asr Novin Company is tradable on the first market of the exchange with the symbol “Hi Web”. “High Web” with a market value of 7,383 billion Tomans is located in the information and communication group.
The analysis of the “High Web” trading board shows that the price behavior of this share takes place with a short pause in the direction of suspicious legal movements of the share. 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.
In the financial period ending June 31 of this year, the shares of “Hi Web” have realized 81 rials of profit. This amount represents operational growth and non-operational decline.
Technical analysis of “Hi Web” stocks
Technicians will notice the upward trend of this stock in the weekly time frame by simply identifying the structure of the web stock price chart. In the picture, there are three correction waves. The control floor of this share is in the price range of 207 to 214 Tomans. If the price breaks this range downwards, the upward trend of “high web” will be violated.
Using the Andrews Fork tool shows, these three corrective waves are of similar size and belong to the same family. This information provides an important road map to shareholders. Currently, by drawing an Andrews fork in the style of pullback midline and projecting the last correction size, we notice the repetition of the previous correction size in the price of “High Web”.
Price collisions with the drawn middle line indicate that the price accepts the frequency of this instrument. The orange circle shows BOF (Break out failure) on the middle line.
In this case, the price penetrated to the levels lower than the middle line, activated the stop loss orders of the shareholders who were hidden behind the previous floor (range of 232 Tomans) as the last support bastion and then started to move.
On the other hand, the existence of a gap in higher prices may also be a motivation for buyers. Because some people believe that most chats are filled.
Currently, the crossing of the “Hi Web” stock price from its previous compression in the range of 272 Tomans provides the seal of the price’s rise to the previous minimum ceiling. In this analysis of the shareholders’ loss limit, the last price floor is placed in the range of 225 Tomans.
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