The chart of Nadhi Medical Company (TADAWUL: 4164) Nahdi Medical CompanyTADAWUL_DLY:4164adel942The chart of Nadhi Medical Company (TADAWUL: 4164) clearly shows a falling channel pattern — a series of lower highs and lower lows bounded by two parallel descending trendlines. This structure typically signals a controlled downtrend that can eventually lead to a bullish reversal once price breaks above the upper boundary. Here’s a structured technical breakdown: 📉 Falling Channel Analysis Upper trendline (resistance): Around 103–106 SAR, aligning with the purple moving average (103.6 SAR). Lower trendline (support): Near 88–90 SAR, where the current price (90.35 SAR) is hovering. Channel slope: Moderate, suggesting a steady decline rather than panic selling. 🔍 Momentum Indicators RSI: ~29.97 — deep in oversold territory. RSI MA: ~40.31 — still trending down but flattening. → This divergence between price and RSI hints at weakening bearish momentum. 📈 Reversal Zone Projection Based on the confluence of support and momentum: Potential reversal level: 88–92 SAR This zone coincides with the lower channel boundary and oversold RSI. A confirmed weekly close above 94 SAR would strengthen the bullish reversal signal. Upside targets after breakout: First resistance: 103–106 SAR (channel top + MA). Secondary target: 118–120 SAR (previous consolidation zone).