Tuesday stock market forecast / positive technical signals to change the trend of the total index

According to Tejarat News, with Monday’s growth, the total index of Tehran Stock Exchange is at a distance of 3.81% compared to the 1999 ceiling. Some experts believe that the Hall of Glass indicators will start an upward trend before touching their static support.

Therefore, speculations regarding the end of the reform process have increased. Some believe that the market has actually made its turning point with the growth of the last two days, and some believe that the entire stock market index needs more floor preparation before the next wave of ascent starts.

Monday began with a relatively strong showing by buyers, particularly in auto stocks. Trading flow was balanced after that, but in the final 30 minutes of trading, buyers took over again.

Accordingly, the main index of the glass hall faced an increase of 26 thousand and 43 units, which is equivalent to 1.21% of this index. Based on this, the total index stood at the level of two million and 183 thousand units at the end of Monday trading.

Also, the equal weight index behaved in line with the total index and reached the level of 763 thousand 351 units with a growth of 1.12 percent.

Tehran Stock Exchange under the microscope of statistics and figures

Investigating the ownership statistics of real people indicates the entry of real capital into the stock market. The index of capital inflows and outflows at the end of Monday’s stock exchange reports the inflow of 220 billion tomans into stocks, preemptive rights and mutual funds.

Also, the board of the Tehran Stock Exchange shows the volume of Monday’s transactions at 10.7 billion and the value of small transactions at 6.870 billion tomans.

The growth of the American bill with a disregard for the news

During Monday’s trading, news was published about Iran’s black money in Iraq. The head of the Iran-Iraq Chamber of Commerce announced: Iraq, while confirming Iran’s demand of 10 billion dollars, announced that this amount was given to TBI Bank so that this money could be used in non-sanctioned cases such as basic goods and medicine.

Nevertheless, the dollar continued its slow growth and remained in the corridor of 50 thousand tomans. According to foreign exchange market traders, if the policy maker does not take any operational action in the coming days in line with the news published in the second half of June, the price of the dollar will rise gradually. It should be noted that this news is related to Iran’s blocked currencies in other countries and the release of political prisoners.

Technical analysis of the total index

The main indicator of the glass hall has been at its correction level of 23.6% Fibonacci for some time. After the total index did not cross its previous floor, which was in the range of two million and 145 thousand units, two scenarios for the short-term future of the market were proposed; The trend of suffering and climbing up to the limit of the range (two million and 189 thousand units) and the end of the correction process and crossing the said ceiling to achieve higher goals.

Also, drawing a behavior line for the minor ceilings made in the recent correction process shows another positive signal for the shareholders. With the closing of the total index candle at the end of Monday’s trading, the aforementioned behavior line has been broken.

If the total index can cross the ceiling of its range of two million and 189 thousand units, it has the potential to advance to the higher ceilings of the corrective trend (marked with a red circle).