Rasan (8313): Watching a Confluence Support Zone Around 135Rasan Information Technology Co.TADAWUL_DLY:8313AlphaFox-TradersRasan is still trading inside an ascending channel even after the recent sharp drop. Price is getting close to an interesting confluence zone around 135, where the lower boundary of the ascending channel, a previous support area, the 38.20% Fibonacci retracement. Increased chances of a positive reaction. I'm not in a hurry to enter, and would rather wait for a bullish candle. If the stock bounces from this zone, If the stock bounces from here, the next resistance level is 150 (Mid of the channel) and 160 as the top of the channel. A close below 124 would invalidate this setup. Disclaimer: The information provided is for educational and informational purposes only. It does not constitute financial or investment advice. Trading and investing in stocks involves risk, including the possible loss of capital. Any decisions to buy, sell, or hold securities are the sole responsibility of the reader. Past performance is not indicative of future results. Always do your own research and, if necessary, consult with a licensed financial advisor before making investment decisions.