Baladna Short - Daily

The technical analysis for Baladna's (BLDN) stock indicates a negative outlook, as there is a bearish divergence on the Relative Strength Index (RSI). This negativity is further confirmed by a clear gradual decrease in trading volumes.

Current Price: 1.295 Qatari Riyals

The price movement shows a downward trend in the short term, with a potential or incomplete "Head and Shoulders" pattern, as illustrated in the chart. If the conditions for the Head and Shoulders pattern are met, the minimum target price could be 1.074 Qatari Riyals, which may appear catastrophic in the near term. However, upon closer inspection, the volume profile clearly indicates a price direction towards 1.208 Qatari Riyals before it can either bounce back or continue its temporary decline.

Support and Resistance Analysis:

- Support Levels:
- First support at 1.250 Qatari Riyals
- Second support at 1.200 Qatari Riyals

- Resistance Levels:
- Resistance at 1.350 Qatari Riyals; if breached, the stock could move towards 1.400 Qatari Riyals.

This analysis highlights the need for caution and close monitoring of future developments for the stock.