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MFFL - Buy Trade Call After retracing in a channel price is likely to reverse from here. Fib retracement 0.618 already touched and it may even touch 0.812 level. RSI indicator is still bearish no prominent divergence, but it may reverse in a couple of days. Technically very correct entry should be on break of parallel channel's upper line, however, if one wants to enter with better prices then here are the values. Buy Trade Values Buy 1: 144.00 Buy 2: 141.45 Buy 3: 135.00 TP 1 : 155 TP 2 : 170 SL: 127
PSX:MFFLLong
by Golden_Spur
FCCL - PSX - Analysis on 02 Oct 2024FCCL - Daily TF Currently trend is in uptrend. AB=CD harmonic pattern has been drawn which indicates that PRZ is close, and price may reverse after testing Rs 27.70 to Rs 28.45 zone values. Hidden Bullish Divergence has already caused a pump in the price. RSI indicator also suggests that momentum is highly bullish and is going to put market in oversold condition shortly. Historically it retraced to 0.618 level. Therefore, once again it is expected to retrace back to 0.618 level which expectedly will be Rs 22.80 . Trade Values: One can buy on dip around 25.50 with TP at 27.50. Then Either take SHORT (Sell) trade on reversal or wait till traces back to Rs 22 and then again buy it.
PSX:FCCL
by Golden_Spur
UPFL: Potential Double Bottom Formation Amidst Bearish TrendThis chart represents the monthly price movements of Unilever Pakistan Foods Ltd. (UPFL) on the Pakistan Stock Exchange (PSX). Here’s a breakdown of the chart and its implications: Current Price: - The current price is around 17,000 PKR, with the price having decreased slightly (-0.44%). Support Levels: There’s a significant support level near 15,000 PKR. This has been a crucial support zone in the past. Another support level seems to be around 11,582 - 12,000 PKR, where the price could potentially stabilize. Past Price Movements: - The stock has experienced a significant rise, especially from 2020 onwards, where it surged to its all-time high near 26,000 PKR. - Recently, it has entered a downtrend after hitting the peak, with a clear pullback from the highs. Future Prediction (Technical Analysis): - The orange curves drawn suggest a possible double bottom pattern forming. This pattern generally indicates a reversal after a downtrend. (Wait for confirmation) - According to this prediction: - The price could drop further, potentially revisiting the 12,000 PKR support area. - Following this, a rebound towards 17,000 - 18,000 PKR is anticipated. - A second bottom may form, after which the stock might attempt to rise again, potentially breaking out of the 17,000 - 18,000 PKR range and continuing upward. Key Observations: - Bearish Trend: The stock is currently in a bearish phase after a prolonged uptrend. - Potential Reversal: The double bottom formation hints at a possible reversal, but confirmation is required at the 12,000 PKR level. Overall, if the price holds above 12,000 PKR and confirms a double bottom, the outlook could turn bullish. However, further declines are possible before any reversal materializes.
PSX:UPFLShort
by mbaberhanif
1
MEBLMEBL : The price action is currently positioned above the 50-day Exponential Moving Average (EMA), exhibiting a formation of small candles at the support level. This pattern suggests that the asset is maintaining its support zone. The Moving Average Convergence Divergence (MACD) indicator is situated above the neutral line, which implies potential for upward momentum. It is advisable to consider initiating a long position around the price level of 239, with a stop-loss set at 227 and a potential target of 263.
PSX:MEBLLong
by mbaberhanif
OGDC | Flag PatternThe flag pattern, identified as a bullish formation, is currently observed on the OGDC technical chart. Presently, the bullish momentum is gaining strength, with the price encountering resistance at approximately 134.50-135. This level represents the initial target. Upon a successful breakout, the subsequent target is projected to be 138.50-139. Following the completion of the flag projection, the final target is anticipated to be 148. To effectively manage risk, it is advisable to set a stop loss at 126.50.
PSX:OGDCLong
by mbaberhanif
CSIL | Trend is your friendCSIL: Trading Opportunities and Insights Why is trading in CSIL currently constrained? Here are several key factors and recent developments suggesting a potential entry point for this stock: Price Action : The stock is in uptrend, making HHs and HLs and hovering above 200-day EMA, which is a positive indicator for stability. Whenever the price touches 200-day EMA it bounced upward. MACD Analysis : The MACD has crossed over from below, accompanied by a fading bearish histogram, which points to a shift in momentum towards the bullish side. In past, it is observed whenever cross over happens price pulls upward. Expected Price Targets : The anticipated price targets for CSIL are 3.48, 3.87, and 4.17. These factors collectively suggest that it may be an opportune time to consider trading in CSIL at 2.50. Use stop loss at 2 as this level is the break of the uptrend structure.
PSX:CSILLong
by mbaberhanif
GLAXO | More uptrend or reverse?The price action of GLAXO is currently in an uptrend. Recently, it broke through its trend line resistance and, according to the Impulse-Correction-Impulse (ICI) strategy, has since pulled back after retesting the breakout level. This retest has established dynamic support at the previous trend line resistance. The price is now hovering above the resistance level of 173.58, which is acting as initial support. The next resistance level is anticipated around 202.29. The Relative Strength Index (RSI) is currently at a level of 81 which indicates the stock is at overbought level. While MACD hovering above the neutral line.
PSX:GLAXOLong
by mbaberhanif
ISL | Head & Shoulder PatternThe pattern identified is a "Head and Shoulders" formation, which typically signals a bearish reversal. The left shoulder and the head have already been formed, and the right shoulder is now in the process of forming. A long position can be considered during the formation of the right shoulder, indicating the possible completion of the pattern. The chart outlines three potential take-profit levels (TP1: 70.60, TP2: 74, and TP3: 79), suggesting a possible retracement before the price continues its movement. The relatively low volume could impact the strength of future price movements. Use stop loss at 60 to manage risk.
PSX:ISLLong
by mbaberhanif
2
PSO outlookAs the previous market data is concerned the data for PSO shows us a fall in the price of share i am watching ptice to fall to its weekly support level and the price gauge to 155.68 level of support , as well as the trend is concerned stock is in a bearish trend from weekly to daily to H4 to H1 there is some resistance to bearish trend over H4 TF but main trend is breaish price is also forming a Continuation pattern to the bearish trend i am bearish over next week to 155.88 level of support
PSX:PSOShort
by Wakeel_Saab
SAZEW- LONG Trade CallLONG (Buy) Trade Call Technical Analysis: Entry: On crossing Flag's Upper Resistance Level which will likely indicate a start of bull run. This is the safest approach to enter once bull run is confirmed. On the flip side of it comes Mr. Fibonacci - who gave us Fibonacci Equation. And over the past 4 decades now it is norm to consider Fib retracement for getting better entry prices. As per Fibonacci principal, Fib retracement value 0.236 (Rs 963) is tested 85% of the time before going back to the original trend direction, Fib 0.382 (820.80) 70% tested which is likely to happen around 11 Oct 2024. And if market sentiments go down then it can even touch Fib 0.618 (Rs 588.79) 30% chances. Fundamental Analysis are very much in Favour as well. Therefore, place Buy Orders according to your own best judgment. I'll personally take entry on either breaking of Flag's Upper resistance OR at Fib 0.382 (Rs 820).
PSX:SAZEWLong
by Golden_Spur
HUBCThis chart shows the price movement of HUB Power Company Limited (HUBC). The stock reached a peak price of approximately 170 PKR in late June 2024 but has experienced a significant decline since then, currently trading around 121.75 PKR. The recent sell-off appears strong, with a sharp drop over the past few weeks. The stock is nearing a support level around 120.50 PKR, which was last touched in late 2023. Volume spikes (highlighted) indicate heavy trading during key price changes.
PSX:HUBCLong
by mbaberhanif
HUBCThis chart shows the price movement of HUB Power Company Limited (HUBC) stock on the Pakistan Stock Exchange (PSX). The stock reached a peak price of approximately 170 PKR in late June 2024 but has experienced a significant decline since then, currently trading around 121.75 PKR. The recent sell-off appears strong, with a sharp drop over the past few weeks. The stock is nearing a support level around 120.50 PKR, which was last touched in late 2023. Volume spikes (highlighted) indicate heavy trading during key price changes.
PSX:HUBCLong
by mbaberhanif
BNLBNL - Buy Call Stock Summary : In the most recent trading session, BNL closed at PkR13.50. The stock tested an upward trend line in the previous trading session and successfully closed above it. BNL is currently trading below 200-period moving average. The volume indicator shows an increase, indicating a positive stance. Recommendation : Initiate buying positions on weakness or near the support zone and set stop loss below PkR12.83. Initial target is at 13.92 and secondary target is at 14.33
PSX:BNLLong
by mbaberhanif