TALABAT - (DFM) Potential Reversal from Demand Zone

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📉 TALABAT Potential Reversal from Demand Zone 🚀

The stock has been in a downtrend since its IPO, establishing an uptrend around January 5th, followed by a corrective wave starting January 21st after the previous impulsive move.

Currently, the price is testing a key demand zone (1.42 - 1.39), which was formed earlier in January. Signs of a potential trend reversal are emerging, including a break of the downward trendline.

A strong supply zone at (1.59 - 1.62) could serve as a profit target for an upward move.

This could mark the completion of Wave 2 correction within a larger uptrend. A breakout above 1.46 may signal the start of Wave 3, leading to a powerful bullish move.

Setup:
Entry: 1.42 - 1.45 (demand zone confirmation)
Stop Loss: Below 1.39 (invalidates the demand zone)
Take Profit: 1.59 - 1.62 (supply zone)
Risk-Reward Ratio: ~1:3 (ideal for a high-probability setup)

"The market is a device for transferring money from the impatient to the patient." – Warren Buffett

🚨 Disclaimer: This is not financial advice. Always do your own research and manage your risk accordingly. 🚨

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Trade closed at the SZ, price is rejected at the Supply... waiting for a second retest of the DZ to jump again