2083 Technical Analysis: Breakout with Bullish ABCD FormationPower and Water Utility Company for Jubail and Yanbu (Marafiq)TADAWUL_DLY:2083TradeWithParas2083 (Power and Water Utility Company for Jubail and Yanbu – Marafiq) Price has given a breakout from a long-term downward trendline with strong volume and a solid candle close above it, confirming the breakout strength. It has also formed a falling wedge and a bullish ABCD pattern near the breakout level. Price is trading above the 50 EMA and the 89 Fibonacci EMA(which has historically acted as dynamic support and resistance). Buy 2 is positioned lower in case of a healthy pullback for a stronger average. Targets are aligned with recent resistance levels. If price sustains momentum and closes beyond TP2 with strong volume, potential upside could extend toward 64, 74, and ultimately 86 near the all-time high. A trailing stop is recommended to protect gains. Recommended Levels: Buy 1: 44.50 (CMP) Buy 2: 40.00 Stop Loss: Closing below 36.00 Take Profit 1: 50.00 Take Profit 2: 56.00 Take Profit 3: Ride the trend with a trailing stop Potential remains strong as long as price sustains above the breakout zone and the 89 EMA. Happy trading!