EPCL trade ideas
LONG EPCLLonged EPCL. Bought spot shares, no leverage. Resting above monthly support. Entry, Stop Loss and Exit all there. If it claims back above 40, it should be the new support and it should run then imo. Will take a while to play out. Patience is always rewarded. Worth a punt!
Will update in due time.
Manage your risk! #DYOR
EPCL: Early Signs of Spring.After posting the intraday high of 93.48 on 26th April 2022 the security has never been able to come out of selling pressure. On 14th October 2024 the price of 30.01 was printed as the lowest of recent times. From this point onward the Bulls have been trying to get a foothold and some early signs of there success have been noticed.
For those who like to do bottom fishing may initate a long position as has been indicated on the chart, wheras who want to play even safer may go long when the price is above TP1.
For those who initiate long after TP1 the TP2 shall be 50.
Pl do share your opinion as we learn together.
EPCL is BullishPrice was in a strong downtrend, however a bullish divergence led to the break of previous lower high indicating the control of bulls, if the pressure sustains then we can expect a bullish reversal. However, caution must be practiced as it is a risky setup. There is a high probability that the asset would go into an accumulation phase before a bullish rally. Targets are mentioned on the chart.
EPCL🚀 Stock Alert: EPCL
📈 Investment View: Technically Bullish 📈
🔍 Quick Info:
📈 Entry Level: 43.30
🎯 Target Level: 45.50
⚠ Stop Loss: 42.20
⏳ Nature of Trade: Short Term (Scalping)
📉 Risk Level: Medium
☪ Shariah Compliant: YES
💰 Dividend Paying: YES
📰 Technical View: The current price movement is evaluating a support level, coinciding with the observation of a Doji candlestick pattern, traditionally interpreted as indicative of a potential reversal in market direction. Furthermore, the Relative Strength Index indicates an oversold condition. Consequently, a strategic assessment suggests contemplating a long position entry point at the resistance level of 45.50.
Though there is Bullish Divergence on Weekly TF butThough there is Bullish Divergence on Weekly TF but
it broke its Important Support around 40.
Last Week's Candle is a Doji Candle; now coming
week's Candle would decide its next move.
Also Currently, it is Near Trendline Support; lets see
if it is respected or not.
If it isn't sustained, we may witness 26 - 28.
PSX: EPCL OPPORTUNITY FOR SMART ENTRY.EPCL is a chemical company providing raw materials to many construction related indutries.
It has been in downtrend for very long. Recently it hit the low of 38.5 which is the lowest low so far. From this point it reversed and posted a high of 47.95, which is a significant gain. Than comes retracement which is a natural eventuality.
If we apply fib. retracement to this gain we realize that price, almost, retraced to the level of 0.38 which is a healthy sign and to day it has printed a green candle which may be a clue to reversal. the only caution to this scenario is the volume, which is lower than the 20sma.
Here it will be advisable to keep close monitoring of the security and we may use fib. level of 0.5 as support levels and conformation with high volume can trigger a buy call.
At 49.25 we have a resistance on the chart, when crossed shall lead to TP-2.