ESTA & TREND

Technical Analysis Training Course

Japanese Candlesticks

1
One Candle Reversal

Hanging Man

2
 54 54
53 53
52 52
51 51
ORTE
50 50
49
<--- Hanging Man 49
48 48
47 47
46 46
45 45
44 44
43 43
42 42
41 41
40 40
39 39
38 38
37 37
36 36
35 35
34 34
33 33
25 2 8 15 22 29 5 12 19 26 57
2001 February Marc

2.20 2.20
2.15 2.15
2.10 2.10
2.05 2.05
2.00
1.95
INTC 2.00
1.95
1.90 1.90
1.85 1.85
1.80 1.80
1.75 1.75
1.70 1.70
1.65 1.65
1.60 1.60
1.55 1.55
1.50 1.50
1.45 1.45
1.40 1.40
1.35 1.35
1.30 1.30
1.25 1.25
1.20 1.20
1.15 1.15

80000 80000
70000 70000
60000 60000
50000 50000
40000 40000
30000 30000
20000
x100 6 20000
x100

ug Sep Oct Nov Dec 1992 Feb Mar Apr May Jun Jul Aug Sep Oct No

3
 Saudi Cable Co.

140 140

135 135

Hanging Man -->

130 130

125 125

120 120

115 115

110 110

105 105

100 100

95 95

7
6 13 20 27 3 10 17 31 7 14 21 28 7 14 21 28 4 11 18
ember 2005 February March April

Assir Trading
310 310

305 305

300 300

295 295

290 290

285 285

280 280

275 275

270 <-- Hanging Man 270

265 265

260 260

255 255

250 250

245 245

240 240

235 235

230 230

225 225

10000 10000

5000 5000

x100 8 x100
18 25 1 8 22 29 6 13 20 27 3 10 17 31 7 14 21 28 7 14 21 28 4 11 18
November December 2005 February March April

4
 Hammer

555 555
550 550
545 545
540 540
535 535
530 530
525 525
520 520
515 515
510 510
505 505
500 500
495 495
490 490
485 Hammer --> 485
480 480
475 475
470 470

40000 40000
30000 30000
20000 20000
10000 10000
x100 x100
24 31 7 14 21 29 5 12 19 26 2 9 16 23 30 10
6
June July August Septem

5
 National Co. Glass Ind. (311.250, 312.500, 296.000, 302.250, -9.00000)
325 325

320 320

315 315

310 310

305 305

300 300

295 295

290 290

285 285

280 280

275 275

270 270

265 265

260 260

255 255

250 250

245 245

240 240
Hammer -->
235 235

230
Support 230

225 225

20000 20000
15000 15000
10000 10000
5000 11 5000
x100 x100
11 18 25 1 8 22 29 6 13 20 27 3 10 17 31 7 14 21 28 7 14 21 28 4 11 18
November December 2005 February March April

350 350
340 340
330 330
320 320
310 310
300 300
290 290
280 280
270 270
260 260
250 250
240 240
230 230
220 220
210 210
200 200
190 --> 190
180 180

30000 30000
25000 25000
20000 20000
15000 15000
10000 10000
5000
x100 12 5000
x100

April May June July August Septe

6
 Saudi General Index
12000 12000

11500 11500

11000 11000

10500 10500

10000 10000

9500 9500

9000 9000

8500 8500

8000 <-- Hammer 8000

<-- Hammer
7500 7500

7000 7000

6500 6500

13
18 25 1 8 22 29 6 13 20 27 3 10 17 31 7 14 21 28 7 14 21 28 4 11 18
November December 2005 February March April

Saudi Cable Co.

140 140

135 135

Hanging Man -->

130 130

125 125

120 120
0.0%

115 115

110 38.2% 110

50.0%
<-- Hammer
105 61.8% 105

100 100

100.0%
95 95

14
6 13 20 27 3 10 17 31 7 14 21 28 7 14 21 28 4 11 18
ember 2005 February March April

7
 80 80

75 75

70 70

65 65

60 60
<--
55
Support ‫دﻋﻢ‬ 55

50 50

45 45

40 40

35000 35000
30000 30000
25000 25000
20000 20000
15000 15000
10000 10000
5000
x100
5000
x100
9 16 23 30 7 14 21 28 4 11 18 25 1 8 15 22 29 6 13 201527
July August September October

850 Savola Group 850

840 840
830 830
820 820
810 810
800 800
790 790
780 780
770 770
760 760
750 750
740 740
730 730
720 720
710 710
Resistance
700 700
690 690
680 680
670 670
660 660
650 650
640 640
630 630
620 620
610 610
600 600
590 590
580 580
570 570
560 Hammer --> 560
550 550
540 540
530 530
520 520

40000 40000
30000 30000
20000 20000
10000 16 10000
x10 x10
30 6 13 20 27 4 11 18 25 1 8 22 29 6 13 20 27 3 10 17 31 7 14 21 2
September October November December 2005 February M

8
 Shooting Star

17

365
Resistance ‫ﻣﻘﺎوﻣﺔ‬ 365

360 360
<--
355 355

350 350

345 345

340 340

335 335

330 330

325 325
<--
320 320

40000 40000
30000 30000
20000 20000
10000 10000
x10 x10
29 6 12 19 26 3 10 17 24 31 7 14 21 28 5 12 19 26 2 9 18 6
16 23 30
April May June July August Sep

9
 3850
3800
3750
3700
3650
3600
3550
3500
3450
3400
3350
3300
3250
3200
3150
3100
3050
3000
2950
2900
2850
2800
--> 2750
2700
2650
2600
2550
2500
2450
2400
2350
2300
19 2250
July August September November 2003 February April May June Jul

205 Saudi Automotive 205

200 200
195 195
190 190
Shooting Star -->
185 185
180 180
175 175
170 170
165 165
160 160
155 155
150 150
145 145
140 140
135 135
130 130
125 125
120 120
115 115
110 110
105 105
100 100
95 95
90 90
85 85
80 80
75 75

30000 30000

20000 20000

10000 10000
x100 20 x100
8 15 22 29 6 12 19 26 3 10 17 24 31 7 14 21 28 5 12 19 26 2 9 16
arch April May June July August

10
 National Co. Glass Ind. (311.250, 312.500, 296.000, 302.250, -9.00000)
325 325

320 320
Shooting Star -->
315 315

310 310

305 305

300 300

295 295

290 290

285 285

280 280

275 275

270 270

265 Resistance 265

260 260
<-- Shooting Star
255 255

250 250

245 245

240 240
Hammer -->
235 235

230
Support 230

225 225

20000 20000
15000 15000
10000 10000
5000 21 5000
x100 x100
11 18 25 1 8 22 29 6 13 20 27 3 10 17 31 7 14 21 28 7 14 21 28 4 11 18
November December 2005 February March April

Inverted Hammer

22

11
 2.7 2.7

2.6 2.6
<---- Hangin
2.5 Man 2.5

2.4 2.4

2.3 2.3

2.2 2.2

2.1 2.1

2.0 2.0

1.9 1.9
1.8 1.8

1.7 1.7

1.6 1.6

1.5 1.5

1.4 1.4

1.3 1.3

1.2
<---- Inverted Hammer 1.2

1.1 1.1
0 17 24 1 8 15 22 29 5 12 19 23
26
October November

40.5
40.0
39.5
39.0
38.5
38.0
37.5
37.0
36.5
36.0
35.5
35.0
34.5
34.0
33.5
33.0
32.5
32.0
31.5
<-- Inverted Hammer
31.0
30.5
30.0
29.5

50000
40000
30000
20000
24 10000
x10
15 22 29 6 13 20 27 4 10 18 24 31 7 14 22 28 7 14 21 28 4 11 18
December 2005 February March April

12
 Belt Hold-Lines

25

Assir Trading
310 310

305 305

300 300

295 295

290 290

285 285

280 280

275 275

270 <-- Hanging Man 270

265 265

260 260
<-- Bullish Belt hold Line
255 255

250 250

245 245

240 240

235 235

230 230

225 225

10000 10000

5000 5000

x100 26 x100
18 25 1 8 22 29 6 13 20 27 3 10 17 31 7 14 21 28 7 14 21 28 4 11 18
November December 2005 February March April

13
 58 58

57 57

56 56

55 55

54 54

53 53

52 52

51 51

50 50

49 49

48 48

47 47
<--
46 46
<--
45 45

50000 50000

x100 x100
4 11 18 25 2 16 23 30 6 13 20 27 3 17 24 3 10 17 24 31 7 14
27
November December 2003 February March April

Savola Group

1050 1050

1000 1000

950 950

900 900

850 850

800 800

750 750

Resistance
700 700

650 <-- Bullish Belt Hold Line 650

600 600

Hammer -->
550 550

40000 40000
30000 30000
20000 20000
10000 28 10000
x10 x10
13 20 27 4 11 18 25 1 8 22 29 6 13 20 27 3 10 17 31 7 14 21 28 7 14
er October November December 2005 February March

14
 220 220
210 210
200 200

190 190
180 180

170 170
160 160

150 150
140 140
130 130

120 120
110 110
<--
100 100

35000 35000
30000 30000
25000 25000
20000 20000
15000 15000
10000 10000
5000
x100
5000
x100
12 19 26 3 10 17 24 31 7 14 21 28 5 12 19 26 2 9 16 2923
May June July August

40.5
40.0
39.5
39.0
38.5
38.0
37.5
37.0
36.5
36.0
35.5
35.0
34.5
34.0
33.5
33.0
32.5
32.0
31.5
<-- Inverted Hammer
31.0
Bullish Belt hold Line -->
30.5
30.0
29.5

50000
40000
30000
20000
10000
x10
15 22 29 6 13 20 27 4 10 18 24 31 7 14 22 28 7 14 21 28 4 11 18
December 2005 February March April 30

15
 Mawashi United

95 95

90 90

85 85

Bearish Belt hold Line

80 80

75 75

70 70

65 65

60 60

50000 50000
45000 45000
40000 40000
35000 35000
30000 30000
25000 25000
20000 20000
15000 15000
10000 10000
5000
x100 31 5000
x100
6 13 20 27 3 10 17 31 7 14 21 28 7 14 21 28 4 11 18
ember 2005 February March April

115 115
110 110
105 105
100 100
95 95
90 90
85 85
80 80
75 75
70 70
65 65
60 60
55 55
<--
50 50
45 45

20000 20000
15000 15000

10000 10000
5000 5000
x1000 x1000
29 6 12 19 26 3 10 17 24 31 7 14 21 28 5 12 19 26 2 9 16 23 30326
April May June July August Septe

16
 23.0 23.0
100.0%
22.5 22.5
22.0 22.0
21.5 21.5
21.0 21.0
20.5 20.5
61.8%
20.0 20.0
19.5 50.0% 19.5
19.0 19.0
18.5 38.2% 18.5
18.0 18.0
17.5 17.5
17.0 ‫اﻟﻜﺘﻒ اﻻﻳﻤﻦ‬ 17.0
16.5 ‫اﻟﻜﺘﻒ اﻻﻳﺴﺮ‬ 16.5
16.0 0.0%
<-- ‫اﻟﺮأس‬ 16.0
15.5 15.5
15.0 15.0

50000 50000
40000 40000
30000 30000
20000 20000
10000 10000
x10 33 x10

August September October November December 2004 Februa

Bullish & Bearish Engulfing Patterns

34

17
 Public Transport
155 155

150 150

145 145

140 140

135 135

130 130

125 125

120 120

115 115

110 110

105 105
<-- Bullish Belt hold-Line + Bullish Eng. Pattern
100 100

95 95

60000 60000

50000 50000

40000 40000

30000 30000

20000 20000

10000 10000
x100 35 x100
13 20 27 3 10 17 31 7 14 21 28 7 14 21 28 4 11 18
2005 February March April

205 205
200 200
100.0%
195 195
190 190
185 185
180 180
175 175
170 170
165 165
160 160
61.8%
155 155
150 150
145 50.0% 145
140 140
135 135
38.2%
130 130
125 125
120 120
115 115
110 110
105 105
100 <-- Bullish Engulfing Pattern 100
95 0.0% 95
90 90
85 85

50000 50000
x100 x100
19 26 3 10 17 24 31 7 14 21 28 5 12 19 26 2 9 16 36 6
23 30
May June July August Sept

18
 205 Saudi Automotive 205
200 200
195 195
190 190
Shooting Star -->
185 185
180 180
175 175
170 170
165 165
160 160
155 155
150 150
145 145
140 140
135 135
130 130
125 125
120 120
115 115
110 110
105 105
100 100
95 95
90 <-- Bullish Eng. Pattern 90
85 85
80 80
75 75
70 70
65 65
60 60

50000 50000

37
x100 x100

February March April May June July August September October November Dece

200 200
195 195
190 190
185 185
180 180
175 175
170 170
165 165
160 160
155 155
150 150
145 145
140 140
135 135
130 130
125 125
120 120
115 115
110 110
105 105
100 <-- 100
95 95
90 90
85 85
30000 30000
25000 25000
20000 20000
15000 15000
10000 10000
5000 38 5000
x1000 x1000

rch April May June July August Sept

19
 National Co. Glass Ind. (311.250, 312.500, 296.000, 302.250, -9.00000)
325 325

320 320
Shooting Star -->
315 315

310 310

305 305

300 300

295 295

290 290

285 285

280 280

275 275

270 270

265 Resistance 265

260 260
<-- Shooting Star
255 255

250 250

245 245

240 240
Hammer -->
<-- Bullish Eng. Pattern
235 235

230
Support 230

225 225

20000 20000
15000 15000
10000 10000
5000 39 5000
x100 x100
11 18 25 1 8 22 29 6 13 20 27 3 10 17 31 7 14 21 28 7 14 21 28 4 11 18
November December 2005 February March April

40.5
40.0
39.5
39.0
38.5
38.0
37.5
<-- Bearish Eng. Pattern
37.0
36.5
36.0
35.5
35.0
34.5
34.0
33.5
33.0
32.5
32.0
31.5
<-- Inverted Hammer
31.0
Bullish Belt hold Line -->
30.5
30.0
29.5

50000
40000
30000
20000
40 10000
x10
15 22 29 6 13 20 27 4 10 18 24 31 7 14 22 28 7 14 21 28 4 11 18
December 2005 February March April

20
 350 350
340 340
330 330
320 320
310 310
300 300
290 290
280 280
270 270
260 260
250 250
240 240
230 230
220 220
210 210
200 200
190 <-- 190
180 180

30000 30000
25000 25000
20000 20000
15000 15000
10000 10000
5000
x100 41 5000
x100

April May June July August Septe

Tihama
150 150

145 145

140 140

135 135

130 130

<-- Bearish Eng. Pattern

125 125

120 120

115 115

110 110

105 105
<-- Bullish Eng. Pattern

100 100

95 95

10000 10000

5000 5000

x100 42 x100
6 13 20 29 3 10 17 31 7 14 21 28 7 14 21 28 4 11 18
ecember 2005 February March April

21
 Ezz Porceain (El Jawhara)
17.0 17.0
16.5 16.5
16.0 16.0
15.5 <-- Bearish Eng. Pattern 15.5
15.0 15.0
14.5 14.5
14.0 14.0
13.5 13.5
13.0 13.0
12.5 12.5
12.0 12.0
11.5 11.5
11.0 11.0
10.5 10.5
10.0 10.0
9.5 <-- Bullish Eng. Pattern 9.5
9.0 9.0
8.5 8.5
8.0 8.0
7.5 7.5
7.0 7.0
6.5 6.5
6.0 6.0
5.5 5.5
5.0 5.0

15000 15000

10000 10000

5000 5000

x100 43 x100
31 7 14 21 28 7 14 21 28 4 11 18 2
February March April

Piercing Pattern / Dark Cloud Cover

44

22
 Saudi Cable Co.

140 140

135 135

130 130

125 125

120 120

115 115

110 110

105 105
<-- Piercing Pattern

100 100

95 95

45
6 13 20 27 3 10 17 31 7 14 21 28 7 14 21 28 4 11 18
ember 2005 February March April

Mawashi United

95 95

90 90

85 85

Bearish Belt hold Line + Dark Cloud Cover

V
80 80

75 75

70 70

65 65

60 60

50000 50000
45000 45000
40000 40000
35000 35000
30000 30000
25000 25000
20000 20000
15000 15000
10000 10000
5000
x100 46 5000
x100
6 13 20 27 3 10 17 31 7 14 21 28 7 14 21 28 4 11 18
ember 2005 February March April

23
 Public Transport

115 115

110 110

v
105 105

100 100

95 95

90 90

85 85

<-- Piercing Pattern

80 80
<-- Piercing Pattern

75 75

40000 40000
35000 35000
30000 30000
25000 25000
20000 20000
15000 15000
10000 10000
5000 5000
x100 47 x100
25 1 8 15 22 29 6 13 20 27 3 10 17 1 8 15 22 29 5 12 19
September October November December 2004

20.0 20.0
19.5 19.5
19.0 19.0
18.5 18.5
18.0 18.0
17.5 <--- Dark Cloud Cover MPRC 17.5
17.0 17.0
16.5 16.5
16.0 16.0
15.5 15.5
15.0 15.0
14.5 14.5
14.0 14.0
13.5 13.5
13.0 13.0
12.5 12.5
12.0 12.0
11.5 11.5
11.0 11.0
10.5 10.5
10.0 10.0
9.5 9.5
9.0 9.0
8.5 8.5
8.0 8.0
7.5 7.5
7.0 7.0
6.5 6.5
48
Apr May Jun Jul Aug Sep Oct Nov Dec 2002 Feb Mar Apr May Jun Jul Aug

24
 115 115

110 110

105 EMOB 105

100 100

95 95

90 90

85 85

80 80

75 75

70 70

65 65
<--- Piercing Pattern
60 60

55 55

50 50

49
Aug Sep Oct Nov Dec 2001 Feb Mar Apr May Jun Jul Aug S

23.0 23.0
22.5 22.5
22.0 22.0
21.5 21.5
21.0 21.0
20.5 0.0% 20.5
20.0 20.0
19.5 19.5
19.0 19.0
38.2%
18.5 18.5
50.0%
18.0 18.0
61.8% <--
17.5 17.5
17.0 ‫اﻟﻜﺘﻒ اﻻﻳﻤﻦ‬ 17.0
16.5 ‫اﻟﻜﺘﻒ اﻻﻳﺴﺮ‬ 16.5
16.0 100.0%
<-- ‫اﻟﺮأس‬ 16.0
15.5 15.5
15.0 15.0

50000 50000
40000 40000
30000 30000
20000 20000
10000 10000
x10 50 x10

ugust September October November December 2004 February March

25