Technical analysis of “Thamskan” shares, November 1402 / The fate of “housing investment” depends on which variable?

According to Tejarat News, the real estate investment company with the symbol “Thamskan” can be traded in the first market of the stock exchange. The shares of this company with a market value of 3,899 billion tomans are in the mass production group.

The analysis of the “Thamskan” 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, 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 confirmed 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 Thamaskan stock

During the upward rally of the stock market, the price of Thamskan shares crossed the key range of 502 to 535 tomans. During the correction process of the market, which started on May 16, in the symbol “Thamskan”, it returned to the mentioned range with a drop of more than 48%. Looking at the price chart of this share, it shows that the red support box has prevented the price from penetrating to lower levels twice so far. Also, suppression candles hit this box and informs about high purchase orders in this range.

On the other hand, Andrews PBML fork drawing shows that the price has a high reversal potential by repeating the size of the previous correction in the larger trend. Especially since last week’s positive candlestick, the price has returned to the middle line again. The stabilization of the price during the next three candlesticks (candlesticks of the current week and the next two candles) above the middle line, to a large extent, paves the way for the price to reach the target of 967 Tomans and then touching the upper parallel of the middle line.

In the meantime, maintaining the range of 502 to 535 Tomans is necessary to maintain the upward outlook of this share. In another scenario, if this range is broken down for any reason including geopolitical risks overshadowing the market, the price may fall to lower levels.

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