This is a stock that I don’t invest it and won’t as I am not confident it meets Shariah compliance but wanted to share my technical analysis of it for educational purposes. The stock has dropped more than 48% since its previous all-time high in May 2021. The stock has been trending downwards in a channel and has reached an important support level since 2013 at around $129. A double bottom is forming (still to be confirmed) while RSI is in oversold territory and showing divergence as well, so we have alot of confluences at the current level.
Let me know if interested in further analysis on some stocks you’re watching.
Thanks
Let me know if interested in further analysis on some stocks you’re watching.
Thanks