Aljazira Takaful (8012) – Bounce from Key Support, More Upside?

26 Mar

The stock bounced from a strong support around 14.30 after a steep decline.
Currently testing 14.90 as a key breakout level.
If it holds, targets are set at 15.60 and 16.20, with a stop loss below 14.30.
If it fails, next support lies around 13.70.


Short-term analysis on the 4H timeframe.

10 Nis

Emir iptal

The breakout above 14.90 failed to hold. Price rejected right after entry and reversed hard — confirming it was a false breakout.

Currently trading around 14.14, sitting just above the key 14.30–14.00 support zone again.

📉 This is why we wait for confirmation — the setup was clean, but the market said "not yet.