AGP- LONG TRADEAGP has recently given breakout of Cup & Handle / Scallop pattern. it has successfully retested it.
AGP trade ideas
Refrain from Trading in AGP at the momentThe stock has made significant bearish divergence and likely to retrace, Retracement Level 1 could be 150, level 2 could be 144, Level 3 could be 133 and Level 4 could be 121 where it should be accumulated as per your capital allocation.
On Long term, the stock seems to be in uptrend with 6 months Target of 270 which will be a 50% gain from suggested Entry.
However, this target is likely to be achieved when it will cross Rs 180 level being its previous HH. Investors or long term traders likely to made over 70-80% on this stock within next 6-8 months
Making HH HLs but...Making HH HLs & took Support from
Parallel Channel multiple times.
Now Channel Resistance is around 129 - 130
but, 110 - 112 is the Immediate Resistance
that should be broken.
97 - 99 seems to be a Very Good Support for now.
AGP: LongTrend: upwards
Making higher highs and higher lows
last higher high is broken and momentum green candle with volume
no divergence with good RSI buying momentum
Red horizontal lines are resistance
EP: 104 current price
SL:85.40
TP:123.60
R:R= 1:1
AGP (Complete Analysis).AGP Stock Analysis
Pattern: AGP is forming an inverse cup and handle pattern, indicating a potential bullish reversal.
Target: A target price range of 74-75 is projected based on the pattern.
Gap Fill: AGP has an unfilled gap, which could act as a catalyst for a bullish rally.
Strategy: Consider buying AGP at 74-75 and selling above 78, targeting 80 and 82.
Indicators: Bullish RSI and falling ADX and +DI support the bullish outlook.
Risk: Investors should be aware of inherent risks in all investments.
Bullish Divergence on Monthly TFBullish Divergence on Monthly TF
Made HH around 75 - 76 on Monthly TF
Cup & Handle Breakout above 76
Bullish Flag Pattern can also be seen
PSX: AGP Bulls are backAfter making steady journey to north the script has been sideways or retracement. On Friday the security closed above the recent trend line, which was limiting its movement. Simultaneously the RSI has also shown a positive sign by closing above its Moving Average.
It is suggested to go longe when price close above 76.10. The harmonic pattern target is 94.
AGPBuy Call # 131-AGP
Date : 14-12-2023
Plan1
Buy Above 76 (if sustained)
TP1 : 80
TP2 : 85
TP3 : 89
SL : 71 closing basis
Plan 2
Buy1 : around 68.50
Buy2 : around 64.50
TP1 : around 71
TP2 : around 72.50
SL : 57 (closing basis)
PSX -AGP OutlookAGP was consistently performing after breaking the last lower high and bulls were in resting mode from last couple of sessions and able to maintain the position during today correction. potential of growth also reflecting in weekly chart.
Entry:75
StopLoss:65
TP1:85
TP2:95
