bldn Technical Pattern Observed:
The chart shows a Symmetrical Triangle pattern that has formed since around 2021.
The price has recently broken out of the triangle to the upside, which is typically seen as a bullish signal indicating a potential trend reversal or continuation.
📈 Projection Targets:
Target 1 (T-1): QAR 1.679
Target 3 (T-3): QAR 2.148
These targets are derived by projecting the height of the triangle from the breakout point upwards.
📊 Analyst Commentary (from chart text):
"I expect that prices will begin to recover over time, especially with the company's expansion plans outside Qatar. Technically, the correction has been completed, as I see it, and we will begin a phase of either a rise or a consolidation."
This supports a bullish outlook for Baladna, assuming the breakout holds and the broader market conditions are favorable.
✅ Implications for Investors:
Medium to Long-Term Investors: This breakout could be a signal to consider entry, especially if price action confirms the breakout with increased volume.
Suggested Technical Stop-Loss: Below the lower boundary of the triangle (around QAR 1.10), in case of a false breakout.
