BKA: The price movement hints at a potential trend reversal!
Naranj Capital Research Desk
Following a steep drop in March 2020, the index demonstrated remarkable resilience, climbed significantly to reach the impressive level of 8,460 and marked an all-time high.
However, the Kuwait All Share Index subsequently faced a substantial decline from this peak.
Eventually, it found support around the 6,400 level, which had previously acted as a resistance.
From this point, the index began a gradual upward movement.
Throughout this consolidation phase, an Inverted Head & Shoulders pattern emerged, indicating a bullish market sentiment.
If the index successfully breaks through this pattern, we could anticipate an upward rally in the near future.
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