ARVA – Arab Valves Co.
ARVA has broken a declined resistance line and successfully closed above the EMA200 today, accompanied by a trading volume higher than the 3-month average.
On the weekly chart, ARVA has rebounded from the 61% Fibonacci retracement level.
A confirmed breakout and sustained close above the horizontal resistance at 4.45 would pave the way for the following upside targets: 4.90, 6.00, and 6.80.
Trade Setup:
- Potential Buy Range: 4.40 – 4.50
- Target 1: 4.90
- Target 2: 6.00
- Target 3: 6.80
Stop Loss: Below 4.25 (confirmation required)
Note: Trailing stop-loss levels are recommended to lock in profits.
Key Level to Watch: Holding above 4.45 is crucial for maintaining the bullish outlook.
ARVA has broken a declined resistance line and successfully closed above the EMA200 today, accompanied by a trading volume higher than the 3-month average.
On the weekly chart, ARVA has rebounded from the 61% Fibonacci retracement level.
A confirmed breakout and sustained close above the horizontal resistance at 4.45 would pave the way for the following upside targets: 4.90, 6.00, and 6.80.
Trade Setup:
- Potential Buy Range: 4.40 – 4.50
- Target 1: 4.90
- Target 2: 6.00
- Target 3: 6.80
Stop Loss: Below 4.25 (confirmation required)
Note: Trailing stop-loss levels are recommended to lock in profits.
Key Level to Watch: Holding above 4.45 is crucial for maintaining the bullish outlook.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.