EXIDE PAKISTAN LTD. in PSXExide Pakistan Ltd. Chart Analysis
Current Trend: Moving within a channel
Support Levels: 880 to 866 area
Resistance Levels: 1020 to 988 area
Stop Loss: 820
Long-Term Outlook: Forming a bullish flag pattern
Visual Representation:
| 1020 |------------------ Resistance
| |
| 988 |------------------ Resistance
| |
| |
| 880 |------------------ Support
| |
| 866 |------------------ Support
| |
| 820 |------------------ Stop Loss
Summary:
Support: The stock is finding support in the 880 to 866 area, indicating a strong buying interest at these levels.
Resistance: The resistance zone is between 1020 and 988, where selling pressure might emerge.
Stop Loss: Setting a stop loss at 820 helps manage risk in case the stock moves against the expected trend.
Bullish Flag: In the long run, Exide Pakistan is forming a bullish flag pattern, which is typically a continuation pattern indicating potential upward movement after a period of consolidation.
