Technical analysis of Satran shares, November 1402 / the uncertain future of the shareholders of Tehran Housing Investment Company

According to Tejarat News, Tehran Housing Investment Company can be traded in the second over-the-counter market with the symbol “Thetran”. The shares of this company with a market value of 1,391 billion tomans are in the rubber and plastic products group.

The analysis of the trading board of “Thetran” shows that the price behavior of this share takes place with a short break in the direction of the suspicious movements of the share rights. Therefore, every time the rights started to make heavy purchases, 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 accumulation index

The upward trend of the stock market started in November last year. The symbols of the mass production industry were not excluded from this trend. The upward rally of the market continued until the middle of May. Currently, after 23 weeks of correction, the index of the accumulation group has shown some openings of hope to change the trend in its chart.

The technical analysis of the chart of the accumulation group index, in the weekly dimension, shows that the dominant trend of the share is still upward. Although the index’s previous rally was unable to cross its historical ceiling in the range of 21,268 units, it crossed all the ceiling swings confirmed by the fall of 1999.

This indicator was able to cross the resistance range of 14 thousand 649 to 14 thousand 828 units in the candle on the first day of November, which is indicated by the red box in the image below. This range is the last approved ceiling of the correction process. In fact, passing through it, the index issues a very important sign of changing its behavior.

The crossing of the group of mass builders through this range required stabilization, which has not been achieved until now. Even the return of the index below this range, which happened in today’s candle, provides the risk of reducing the height of the index at least to the range of 13,905 units.

The chart of Mass Makers in the weekly timeframe shows that this indicator has well accepted the frequency of the Andrews fork. The way the indicator behaves with the Andrews fork lines conveys this importance. The return and stabilization of this index above the middle line is necessary in order to reach the upper parallel of the fork. Currently, as checked in the daily timeframe, the price crossing the mentioned range fulfills both the conditions of the bullish scenario, i.e. the sign of a change in behavior and placement above the drawn middle line.

Technical analysis of Thetran stocks

The recent price correction of Thetran shares has exceeded the size of the previous corrections. Therefore, the corrective waves of this symbol cannot be used to use the tool. The Andrews Fork drawn on the Thetran stock price chart shows that the price is currently above the midline. The appropriate suppression (relative to the drawn parallel sliding), as well as price encounters with the upper parallel of the fork and its energy discharge, all indicate that the frequency of this fork has been accepted by the price.

From a static point of view, the price is placed between two ranges. The upper ceiling of the range is at the price level of 829 to 851 tomans. Breaking this range paves the way for Thetran stock price to reach higher targets, including the upper MLH of the Andrews fork.

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