Technical analysis of Sharak and Kaveh – Tejaratnews
With the end of the market today, 15 Azar 1401, the symbols of Sharak and Kaveh registered the prices of 3007 and 593 Tomans, respectively, in the stock exchange board. This report has analyzed the price chart of Sharak and Kaveh shares.
According to Tejarat News, with the end of the market today, 15 December 1401, the symbols of Sharak and Kaveh registered the prices of 3007 and 593 Tomans, respectively, on the board of the stock exchange. This report has analyzed the price chart of Sharak and Kaveh shares.
Charac technical analysis
Examining the price chart of Sharak indicates that the share is in a one-year downward trend. The formation of lower ceilings and floors in the last one year confirms this downward trend. As it is clear in the chart below, the drawn downward trend line has high credibility due to several times preventing the growth of Sharak price. Therefore, the share needs significant money to break this trend line and move towards its price targets.
The levels of 3515 and 4745 Tomans are the most important price barriers for Sharak going forward. The most important support level of this share is the level of 2613 Tomans. Also, this share is now on another of its support lines, so we have to see if this support level can prevent the share price from falling further or not?
Technical analysis of Kaveh
As can be seen in the chart below, after fluctuating in the price range of 603 to 975 Tomans from June 26, 1999 to December 21, 1400, the Kaveh symbol lost its support level and after the pullback, it decreased to the level of 399 Tomans. However, the support level of 399 Tomans prevented further reduction in the price of this share. In the following, this share reached the price of 594 Tomans after growing by 52%. Currently, this resistance level is the most important level to prevent Kaveh’s price growth. As long as this level is not broken with a strong candle, there is no hope for this share to rise.
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