Fauji Cement Co Ltd (FCCL) share price is almost at Daily Channel Support Level. Technically, price may bounce from this support.
However, a SHARK Harmonic pattern has been drawn (93% compliant) which if followed will drop the prices significantly. KVO is dipping below zero level indicating a Bear run; additionally RSI is also dipping which supports the dropping of prices. Until and unless some fundamental element or good news kicks in price should go till Buy-2 level. In case price drops below 29 then price will free fall till 29.27.
Trade Values
Buy-1: 34.07
Buy-2: 33.87
SL: 29.27
TP-1: 40
TP-2:47
However, a SHARK Harmonic pattern has been drawn (93% compliant) which if followed will drop the prices significantly. KVO is dipping below zero level indicating a Bear run; additionally RSI is also dipping which supports the dropping of prices. Until and unless some fundamental element or good news kicks in price should go till Buy-2 level. In case price drops below 29 then price will free fall till 29.27.
Trade Values
Buy-1: 34.07
Buy-2: 33.87
SL: 29.27
TP-1: 40
TP-2:47
Trade closed: target reached
TP-1 has long reached and TP-2 has been modified to be 46. New analysis on this SCRIPT already shared.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.