SOBHA – Technical Analysis (1D Chart)

chart shows a developing higher-low structure, indicating a possible short-term uptrend continuation. After a recent pullback, the price has formed a strong bullish candle and is attempting to close above the short- and mid-term moving averages, suggesting renewed buyer strength. Since October, the stock has shown a V-shaped recovery, followed by a sharp rally and now a bounce from consolidation. Multiple lower wicks show buyers are defending dips. Key Levels: Immediate Support: 1,590 – 1,600 Major Support: 1,560 Resistance: 1,650 → 1,700 Breakout Level: A daily close above 1,700 can trigger strong bullish continuation. For now, the trend leans bullish as long as price stays above the moving averages. A breakdown will only be confirmed if the price closes below 1,590.