CSAP, Bullish Pennant to fuel further rallyA bullish pennant has formed in CSAP and it' s likely to test resistance line from its ATH.
CSAP trade ideas
CSAP LONG OPPERTUNITYCrescent Steel and Allied Products Ltd. (CSAP) on the Pakistan Stock Exchange (PSX). Below is an analysis based on visible indicators:
Observations:
1. Price Levels:
Current price: The chart indicates the stock is trading near PKR 108.80.
Support level: Around PKR 102.25.
Resistance level: Visible near PKR 124.51.
CSAP is heading to 131 againCSAP is dropped from its strong support of 101 and not touched to support of 93.82, fresh entry could be taken if it crosses 101 again or it drops to 93.82 and bounce back. Stop loss 93 and 83 TP 1 is 108, TP 2 is 117 and TP 3 is 131
Note: This is not a buy/sell call. It is an analysis. Trade at your
own will.
CSAP ready to post 30% gain from current levelsThe stock has made falling wedge pattern indicating reversal in the trend, broke out its previous LH of 112, If daily clsoing is above this level, instant entry could be made for TP1 of 129 and TP2 of 146
Any one enter the trade at these level use the Stop loss of ~95
Gain till TP1 is 15%. First resistance is around 120 which is 7% higher than the current levels.
CSAP - CONCEALING BABY SWALLOWLikely a bullish reversal to revisit the resistance zone b/w 55 - 56, followed by 59 levels.
SL: 53.00
CSAP | Flap PatternCrescent steel displays a promising bullish reversal pattern characterized by the formation of bullish flag pattern. Our plan entails accumulating the stock within the designated buy area around 60, while setting stop loss orders below the bottom of support around 50.30. To guide our trading decisions, we've delineated three distinct targets: an immediate target around 70 and secondary target for exiting the trade will be around 80 depending upon break out and the final target based upon completion of flag pattern will be around 97.
