Understanding the Scoring Technique
The scoring system, which ranges from 0 to 100, assesses the quality of market momentum, essentially measuring the strength of trends. This is achieved by integrating investor participation metrics, such as trading volumes and volume indices, with key technical signals including the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and a selection of both short-term and long-term moving averages.
Jet Contractors: A Weekly Highlight
This week, Jet Contractors has emerged as a standout performer, demonstrating a robust upward momentum. Following a controlled pullback at its technical support levels, the stock has resumed its bullish trajectory, reaching a recent high of 2.740 dirhams. This movement reaffirms the strength of the upward trend that has been in place since early December.
The overall trend remains positive as long as key support levels are maintained. From a technical perspective, the stock's structure is clearly bullish, trading significantly above the 20-day moving average (2.605 DH), the 50-day moving average (2.563 DH), and the 100-day moving average (2.501 DH). This alignment indicates a strong upward trend.
The recent pullback was absorbed without breaching these critical levels, illustrating a constructive retracement before the continuation of the upward movement. The RSI is nearing the overbought territory, indicating an acceleration in momentum without any reversal signals at this point. Meanwhile, the MACD remains positive and upward-oriented, further confirming the dominance of buyers in the market.
