Chart is a technical analysis of TREET Corp Ltd (PSX: TREET).
Key Observations:
Price Action:
Current price: 22.20 PKR
Recent high: 23.27 PKR
Resistance level at 24.60 PKR
Support around 21.00 PKR
Price has broken above a trendline, signaling a potential bullish breakout.
Technical Patterns:
Head and Shoulders Formation in the middle of the chart, followed by a breakout.
Trendlines (dashed red and green) indicate a downtrend reversal.
Measured move projection suggests potential targets at 23.27 PKR and 24.60 PKR.
Momentum Indicators:
RSI (Relative Strength Index) is around 51.39, indicating neutral momentum.
Bearish Divergence seen in RSI (lower highs in RSI vs. higher highs in price), which could indicate weakening momentum.
Volume spikes suggest buying interest.
Conclusion:
The price has recently broken out of a consolidation phase and is testing resistance levels.
If TREET sustains above 22.20, it could test 23.27 and 24.60.
However, the RSI bearish divergence warns of possible exhaustion.
If the price falls below 21.00, a retest of lower supports (around 19.00) could occur.
Price Action:
Current price: 22.20 PKR
Recent high: 23.27 PKR
Resistance level at 24.60 PKR
Support around 21.00 PKR
Price has broken above a trendline, signaling a potential bullish breakout.
Technical Patterns:
Head and Shoulders Formation in the middle of the chart, followed by a breakout.
Trendlines (dashed red and green) indicate a downtrend reversal.
Measured move projection suggests potential targets at 23.27 PKR and 24.60 PKR.
Momentum Indicators:
RSI (Relative Strength Index) is around 51.39, indicating neutral momentum.
Bearish Divergence seen in RSI (lower highs in RSI vs. higher highs in price), which could indicate weakening momentum.
Volume spikes suggest buying interest.
Conclusion:
The price has recently broken out of a consolidation phase and is testing resistance levels.
If TREET sustains above 22.20, it could test 23.27 and 24.60.
However, the RSI bearish divergence warns of possible exhaustion.
If the price falls below 21.00, a retest of lower supports (around 19.00) could occur.
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.
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.