DGKC--Harmonics Bullish Reversal(BAT)Price level reaches at point D and bullish divergence is printed it seems that price may printed new Higherr Highs/Lows and D point become potential reversal zone.
DGKC trade ideas
PSX: DGKC BULLISH REVERSALDGKC is a prominent Cement manufacturer in Pakistan with multiple production facilities.
It has printed bullish harmonic pattern on hourly chart.
Divergence in RSI is another positive factor.
To further enhance the probability of the trade it is suggested that a position may be open at 53.
Detailed trade plan is also prepared .
PSX: DGKCDGKC is a leading Cement Manufacturer in Pakistan. It's current price is around 52 whereas its Book Value is 161.89 and Enterprise Value per share is 94.56.
On daily time frame the company has posted double top cart pattern thus, creating a bias for down trend , an other call is still in field of this effect.
Despite this short call an opportunity to benefit from reversal pattern has emerged on hourly time frame.
On hourly time frame bullish hammer has appeared followed by a doji. This duo ignite the hope of reversal. This is further strengthen by the bullish divergence appeared on RSI.
Since this opportunity has appeared on smaller time frame the TP! is minimal. Otherwise the projected price is quite high.
DGKC Double TopDGKC, on daily chart, has been showing the weakness. Consequently it formed a double top.
Currently the price is residing at neckline and on the next breach of price short trade is suggested.
DGKC Daily Chart Bearish Pattern AB=CDDGKC Daily Chart AB=CD Harmonic Pattern. this is a bearish AB=CD harmonic pattern and take profit mentioned.
DGKC - Bearish ReversalHarmonic Pattern Bearish Gartley in play. Price already down from local top. Waiting for trend confirmation.
