Technical analysis of Tharoud shares, November 1402 / “Tharoud” strong bullish rally – Tejaratnews
According to Tejarat News, Zayandehroud Housing Investment Company is tradable on the first OTC market with the symbol “Tharoud”. The shares of this company with a market value of 822 billion tomans are in the mass production group.
The analysis of the trading board of “Tharoud” shows that the behavior of the price of this share takes place with a short pause in the direction of the suspicious movements of the legal rights 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 approved ceiling of the correction process. In fact, passing through it, the index issues a very important sign of changing its behavior.
The passage of the massification group’s indicator from 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 time frame shows that this indicator has well adopted 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 a position above the drawn middle line.
Technical analysis of Throud stocks
Looking at the stock price chart of Zayandehroud Housing Investment Company, the change in price behavior after October 18 is clearly visible. The definitive sign was issued when the new wave of “Throud” caused the price to cross the level of 1,310 to 1,332 tomans as the ceiling of the range and also the size of the major correction in the previous share trend.
The end of the correction process of “Tharoud”, which started in the middle of May this year, happened when the price was placed in a range phase (between the two red boxes marked in the chart).
Currently, one by one, the roof swings made in the previous modification process are being broken. With the placement of “Throud” in the spike phase, the price has quickly removed its resistances. The two high supply levels that are in the current price of Zayandehroud housing investment stocks are 1,830 Tomans and 2,800 Tomans.
The rational behavior of the people of the capital market who do not have “Throud” in their stock portfolio can be to wait for the correction after the spike phase of this symbol to the limit of the range or its middle (at the same time considering the board of this share) to buy shares of this company. .
In the end, it is expected that in this analytical scenario, the price will go forward as a price target by maintaining the floor of 1,310 tomans as the loss limit of this analysis, until it touches the upper black trend line.
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