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NRL | EMA200📰 On the Daily timeframe, the price has ascended above the EMA200 line, signifying a robust bullish trend. Recently, it has shown pull back from EMA200. Such a pull back typically indicates the continuation of a bullish trend. Furthermore, the MACD histogram needs to transitioned from the negative zone to the positive zone, further endorsing the potential upward movement toward our first target at 286. Subsequently, the price may revisit the pullback zone before establishing a new high and achieving the second target at 306. 🛑 It is essential to note that the analysis will no longer hold validity once the support area breaks at 260. Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below
PSX:NRLLong
by mbaberhanif
7
PSXThe price movement is exhibiting a pattern of higher highs and higher lows, signaling a bullish trend. Presently, there is a retracement following the establishment of a higher low, which coincides with a significant support level. This suggests a potential continuation of the bullish trend. The initial target price is aimed towards the previous high at 16.60. Further, upon a breakout and sustained trading above this previous high, an anticipated new higher high level around 18.10 is envisaged. To manage risk effectively, it is advisable to implement a stop-loss at 13.90.
PSX:PSXLong
by mbaberhanif
3
PACE | Bullish Continuation ExpectedThe stock is presently trading above its 200-day Exponential Moving Average (EMA), adhering to a parallel channel that signifies a bullish trend. On the daily timeframe, there is a clear formation of Higher Highs (HHs) and Higher Lows (HLs). The price has recently experienced a pullback from the support level of the parallel channel, currently hovering above this support. A retracement toward the initial resistance level of 4.45 is anticipated. Should trading volume increase and the price break above and sustain above this resistance level, it is plausible that the price could test the upper boundary of the parallel channel, approximately 5.50. However, this bullish outlook would be invalidated if the channel breaks downward. To manage risk effectively, it is advisable to set a stop-loss order at 2.50.
PSX:PACELong
by mbaberhanif