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PSO Showing Strong Signs of Trend Reversal 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.
PSX:PSO
by StockDuniya
1
POL PROBABLY IN WAVE 'C' OF CORRECTIVE PATTERN DOWNPOL is most probably in a corrective wave down which has started after a strong impulse wave up. Currently the market is in wave C of the corrective pattern downwards. As per our prefer count, on the minor level we are currently in the 5 wave of Wave C, which is either complete or will get extended further down. Once the price closes below 549 it will open targets for wave 5 extension levels as per Elliott wave rule. Also in addition it will give confidence in the Double Top pattern and we can use the chart pattern as well to determine the targets. Remember volume is the key indicator here. On the other hand if the wave 5 of Wave C is over, then we are in 1 or A wave of an impulse or corrective wave up. The formation of the wave will help us determine the upside targets if price does break above last swing high. Let see how this plays, Good Luck ! Disclaimer: This is for informational purposes only; anyone taking trades using this idea will be liable for their own profit or loss.
PSX:POL
by KayJay
1