Buy opportunity

5 天前

Action: Buy
Instrument: SALIK
Entry Price: 4.96 AED
Support Zone: 4.88 to 4.75 AED (Strong demand zone)
Resistance Zone: 5.60 to 5.88 AED (Key resistance levels)
Target Price: 5.60 AED (Immediate target)
Stop-Loss: 4.75 AED (Below the support zone)
Risk/Reward Ratio: 1:3
Key Points:
Demand Zone: The current price area (around 4.96 AED) lies within a strong demand zone (4.88 to 4.77 AED), indicating potential buying pressure.
Resistance: The price faces resistance at 5.60-5.88 AED. If the stock breaks through this range, there is potential for further upside.
Morgan Stanley News: Morgan Stanley lowered its rating on Salik to “Equal Weight” but raised its price target to 5.70 AED from 5.50 AED. This adjustment could provide some positive momentum towards the target price of 5.60 AED.
Risk/Reward Analysis:
Risk: 0.21 AED (4.96 - 4.75 AED)
Reward: 0.64 AED (5.60 - 4.96 AED)
Risk/Reward Ratio: 1:3 (Risking 0.21 AED to potentially gain 0.64 AED)