COLG trade ideas
COLG upward movement & ResistanceGood movement observed in Scrip which crossed the Conversion Line towards upside and very near to the Base Line & EMA 44 and then subsequently also Intersected with the Base Line and EMA 44 Level. Need to sustain this Resistance Level for further upside move.
Some Resistance was expected from this level i.e. Base Line and the EMA 44 Price Level. Next strong Resistance zone to be confronted is the Kumo itself and the marked Grey zone, which are also overlapping.
COLG is BullishCOLG was in a strong down trend, however now bullish divergence has appeared on daily time frame, suggesting that bulls are trying to gain control of the price action. If the previous lower high is broken successfully followed by a higher high and higher low, we can expect a bullish rally as per Dow theory. Targets are mentioned on the chart.
COLG- ACCUMULATINGCOLG is in accumulation phase on daily chart, it might go upward in the coming days. if it breaks the supports then it might fall more below.
COLG PSX KSE1001. Price is following a downtrend through the channel.
2. Price successfully retraced from the previous low highlighted green zone.
3. Expected formation cup and handle.
COLGIn a weekly timeframe analysis, the price maintains its support level of 1300, while the MACD bearish histogram indicates a weakening trend. A pullback from this support zone is anticipated. The initial resistance is situated around 1500, followed by a secondary resistance near 1700. It is advisable to implement a stop loss strategy below 1250 in the event of a support breach.
COLG is in rangeCOLG is currently moving in range after hitting All Time High, it is consolidating currently, however be cautious, as this could potentially be a distribution phase also. Hence, wait for a breakout either to the upside or downside. Targets are mentioned on the chart.
