Parkin (DFM) – Possible Reversal + Positive Earnings Momentum!Greetings Traders,
The Parkin (DFM) chart is showing signs of a potential reversal setup following an extended downtrend. Let’s break it down:
Key Observations:
A bullish divergence is forming on the RSI, hinting at a possible trend shift.
Price is consolidating near recent lows, forming a falling wedge pattern.
Upcoming earnings are estimated to be positive, which could fuel upside momentum.
A breakout with strong volume above AED 5.70 could confirm the trend reversal.
Take Profit zones: AED 6.15 and AED 6.60.
Stop Loss: around AED 5.25 to manage downside risk.
💡 Strategy: Wait for breakout confirmation supported by volume and earnings results. Enter cautiously and manage positions with defined stop losses.
Happy Trading & Stay Disciplined!
