Skip to main content
Up to 53% offSee the plans

Sahmino callsStocks

شستاTAMNNeutral

Shasta; break of the 3,700 rial support that triggered the bullish vote, closing price 3,660 rial and vote back to neutral

Horizon: Short-term (1 to 2 weeks, until about 18 Mehr 1405)

Price when published

3,620 rials

That daydown1.1%

Support

3,620 rials

Resistance

3,700 rials

Invalidation

3,550 rials

The levels on the chart

Since writtenup2.8%

Conclusion

With the closing price closing below the 3,700 support that had triggered the bullish vote, we return to neutral; 3,700 is now resistance and the near support is 3,620; the invalidation line at 3,550 remains untouched. Since Shasta is effectively representative of the whole market, its P/E (16.34) is still about 41 percent higher than the industry (11.56). Only a closing price below 3,550 or above 3,700 rial will clarify the next vote.

The evidence

  • In the session of 11 Mehr 1405 (2026/10/03), Shasta opened with a bullish gap at 3,800 rial and rose to a high of 3,830 rial (above the 3,810 resistance), but recorded a closing price of 3,660 rial, below the 3,700 rial support that had triggered the bullish vote.
  • This closing price was down about 1.88 percent compared to the previous session (3,730 rial on 8 Mehr); the low of that same session was also 3,620 rial.
  • Volume on that same day was 1,542,206,483 units, around the one-month average (1,621,067,163 units).

If it holds

If the closing price stays within the range of 3,620 to 3,700 rial, the neutral vote continues.

If it breaks

If the closing price closes below 3,550 rial the vote becomes bearish, and if it closes above 3,700 rial the vote becomes bullish again.

What to watch

The closing price relative to the three levels of 3,550, 3,620 and 3,700 rial, and the correlation of Shasta's movement with the overall index.

Every call on this symbol

37 calls; the move to the next call from the prices when written

  1. 4 October 08:51NeutralShasta; break of the 3,700 rial support that triggered the bullish vote, closing price 3,660 rial and vote back to neutral3,620 rialsup2.8%
  2. 30 September 08:50BullishShasta touched the 3,640 rial ceiling but the close has not yet confirmed it; the distance to the 52-week high is less than 2 percent3,650 rialsdown0.8%
  3. 28 September 13:30BullishShasta closed 10 rial above the invalidation line on the very day the neutral setup triggered3,560 rialsup2.5%
  4. 28 September 08:38NeutralTen Rial from the Invalidation Line: Shasta Closed Above 3,440 and We Change the Bearish Call to Neutral3,480 rialsup2.3%
  5. 26 September 11:00BearishShasta's 3,400 rial line was lost today, and our neutral call with it; this time we go bearish3,370 rialsup3.3%
  6. 23 September 11:50NeutralThe 3,500 rial target was reached and the easy part of this move is over3,480 rialsdown3.2%
  7. 19 September 11:14BearishSupply returned two hours later and the symbol traded the full range from ceiling to floor, so this time I'll give the direction too3,610 rialsdown3.6%
  8. 19 September 09:04NeutralWhat's holding the ceiling isn't demand, it's absence of supply: only 19.4 million shares have a seller3,810 rialsdown5.2%
  9. 16 September 09:04NeutralFifth session closing at the range ceiling, but Shasta's price-to-earnings ratio is 18.56 versus 11.57 for the industry3,700 rialsup3.0%
  10. 15 September 10:44NeutralIts basket is almost the market itself, yet since Shahrivar 18 it has gone twice the main index and three times the equal-weighted index3,600 rialsup2.8%
  11. 14 September 10:42NeutralYesterday we said we don't have a measurable resistance; today we do: 18 times earnings in a group that sits on 11.33,500 rialsup2.9%
  12. 13 September 12:36BullishThe buy queue for Shasta drew 2,004 orders, but on the day the ticker was open retail sold nearly one billion shares3,400 rialsup2.9%