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Saudi Basic Industries Corp (2010)

Saudi Arabia
Currency in SAR
Disclaimer
78.80
-0.10(-0.13%)
Closed

2010 Price Commentary

where is stock heading up or down?should sell or keep
price is going up ?
What happened? Why collapsed?
When is next dividend coming?
will turn to bullish soon to 100+
As expected the market retraced 62% of 104.40 - 130.40 towards 114.40 target & recovery to 116.60 looks promising. There's potential of reversal head and shoulders pattern. That's to move to 119 to affirm neckline then down to 117.50 to form the right shoulder before heading to 123. Market is a buy
Bullish prospects remains intact despite strong distribution from 130. Impulsive run from 105 to 130 has been corrected to 118.50 close to 50% towards 117.50 with risk to 115.80 &114.70 fibonacci levels. Buy market and weakness towards support areas. Above 124.50 negates further downside and signal move towards 142.
Market failure to sustain close above 125.20 in a row increases down side risk towards 118.50 again. Take profit and reinstate long above 126 intraday or close above 125.40
please refer to my comment on Tasi to complement view of Sabic. We had the bounce from 117.80 and came close to bullish flag upper limit, however, market has established reverse head and shoulders pattern with neckline at 118.50 first confirmation of expected up move towards 142 target
Please refer to my comment on Tasi to complement our judgment on Sabic. So far so good, we got the bounce off 117.80 and look like market formed reverse Head & Shoulder on weekly interval with neckline located at 118.50 which should leave 142 as pattern objective as confirmation with the anticipated bullish flag target.
Subic Currently unfolding within bullish flag (113.8-125.20) boundary. look for validation break of upper limit to signal 142 objective. Buy with stop at 112.80
Sabic's revenue forecast is 30% percent lower. Its time to cash out
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