Pakistan State Oil (PSO) appears to be shifting its market structure after a prolonged correction. The most notable signal is that no new lower low was formed, and the previous lower high has been decisively broken, indicating a potential trend reversal. This breakout is backed by a significant rise in volume, suggesting that smart money might be entering the stock. Additionally, RSI has crossed above 60, which reflects growing bullish momentum. Based on this setup, a trade plan could involve a first buy zone around 382–385 (breakout confirmation) and a second buy zone at 360–363 (in case of a pullback). A stop loss below 338 keeps risk defined, while targets at 409 and 445 provide a favorable risk-reward ratio. All key indicators—market structure, volume, and momentum—are aligning to support a potential upward move in PSO. Keep this on your radar, as this could be the beginning of a strong bullish cycle.
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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.