Etisalat – Continuous Pole > Flag > Breakthrough Formation

Monthly Price Chart

• The stock experienced a significant drop, correcting by nearly 87% from its peak.
• After stabilizing around the 13 SAR, the stock price started to moving upwards.
• After a successful breakout from the Rounding Bottom Pattern, the price surged again, reaching near 50.

Weekly Price Chart

• We have noticed continious Flag & Pole formation in the weekly chart.
• During this continious formation, the stock price experienced a sharp movement (the pole), followed by a period of consolidation within a defined price range (the flag).
• Another Flag & Pole pattern is currently developing in the chart. We expect a breakout from this range eventually, typically in the direction of the initial price move, suggests the uptrend will continue in the near future.

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