Technical analysis of Khagstar stock August 1402 / Khagstar is ready to fly towards upward targets?

According to Tejarat News, the correction process of Khagstar entered its correction process from May 17. After a period of 84 days from the mentioned date, this symbol finally started a new movement that has been stable until now. During this period, 50% of the stock price of Iran Khodro Investment Development Company was reduced. It should be noted that the shares of Iran Khodro Investment Development Company with a market value of 18,741 billion tomans are located in the first market of the stock exchange.

The analysis of Khagstar’s trading board shows that the behavior of the price of this share takes place with a short break in the direction of suspicious legal movements of the share. Therefore, whenever the right has started to make heavy purchases, a little later, the stock has given good returns to the shareholders from the floor swings made in its chart. Therefore, in order to recognize the validity of the rising wave, it is very important to examine the legal behavior of the share.

Khagstar stock price chart in daily time frame

Thanks to the recent price growth that started last Tuesday in this symbol, the downward trend line has been broken. The range of 440 to 455 Tomans, which is considered an important range for the share due to the behavior of the price, has been broken with today’s growth of the “Khagstar” symbol.

Earlier on Wednesday, July 28, the price had invaded this range, which was faced with heavy supply as soon as the price reached it.

Looking again at the price chart of Khagstar, another point can be found to strengthen the prospect of buying this share. Technicians confirm the occurrence of five waves by counting the waves of the recent corrective trend. In this case, the starting point of the corrective process is connected to the end of the fourth wave swing, and when this line breaks, the purchase trigger is triggered.

However, there are different strategies among people and some wait for the continuation of the process to prove its sustainability. In this case, the entry point of this group of capital market activists can be the pullback of the share price to the broken levels.

Khagstar chart under the microscope

If market participants take a look at the daily chart on lower timeframes than the daily chart, they will notice price compression in a collapsing triangle. When the price crosses the level of 451 Tomans, CIB or behavior change is confirmed, which is one of the signs of trend change.

After crossing the ceiling of the descending triangle, the price of Khagstar stock has pulled back to its ceiling and has provided a good buying position for the capital market fluctuations.

On the other hand, if the price stabilizes in the coming days to lower levels than the previous floor (range of 391 Tomans), the bullish scenario will expire.

Currently, according to what was said in the technical analysis of Khagstar shares, the price chart shows that the possibility of the price of this share increasing towards the targets of 528, 616 and finally 780 tomans as the technical targets of the share is more than the possibility of this scenario being fielded.

Read more market analysis reports on the Capital Markets page.