Gasco & Makkah Construction: Watch for a Potential Surge Ahead!

Gasco (Tadawul 2080)

• The stock price underwent an extended consolidation period, during which it developed an Inverted Head & Shoulders pattern.
• After the breakout, the price entered another consolidation phase, oscillating within a narrow price band for a while.
• Subsequently, the price executed a successful breakout and experienced a significant upswing.
• On the chart, a bullish Pole & Flag pattern emerged, indicating that the upward trend is likely to continue.

Makkah Construction (Tadawul 4100)

• After a period of consolidation, a Cup & Handle pattern was formed by the price.
• Following the breakout, the stock price experienced a substantial increase and reached close to the level of 112.
• Subsequently, the stock encountered resistance at this level and entered a consolidation phase.
• During this period, an Inverted Head & Shoulders pattern appeared on the chart, and the price is currently trading near the neckline and poised for a potential breakout in the near future.