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HONDA ATLAS CARS (PAKISTAN) LTDHONDA ATLAS CARS (PAKISTAN) LTDHONDA ATLAS CARS (PAKISTAN) LTD

HONDA ATLAS CARS (PAKISTAN) LTD

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HCAR trade ideas

HCAR (Weekly)Upon analyzing HCAR on a weekly time frame, it is observed that the price has been establishing a pattern of higher highs and higher lows. Additionally, the moving average lines have recently crossed over, suggesting a bullish momentum in the market. Presently, the price has formed a higher low at 274 and retraced subsequent to establishing this support level. A prudent strategy would be to consider placing a stop loss below this support level, approximately around 270, to manage risk in the event of a break. Key resistance levels are identified at 344 (R1), 375 (R2), and 400 (R3). These levels may act as barriers to further upward movement in the price of HCAR.
PSX:HCARLong
by mbaberhanif
1
HCAR🚀 Stock Alert: HCAR 📈 Investment View: Technically Bullish 📈 🔍 Quick Info: 📈 Buying Range : 320-330 🎯 First Target : 344 🎯 Second Target : 388 ⚠ Stop Loss: 288 ⏳ Nature of Trade: Mid Term 📉 Risk Level: Medium ☪ Shariah Compliant: YES 💰 Dividend Paying: NO 📰 Technical View: The price action is currently pulling back after the break out from its previous resistance now acting as support around 289 and currently trading around 325. Long position can be consider for the target of 344 where double top formation will made and upon surpassing next target will be around 388. Use stop loss below 288 if the support breaks.
PSX:HCARLong
by mbaberhanif
HCAR/PSXAn inverse head and shoulders pattern is a technical analysis pattern commonly used by traders to identify potential bullish reversals in the price of an asset. It consists of three troughs with the middle trough (the head) being lower than the other two (the shoulders), resembling the shape of a head and shoulders flipped upside down. Here's how it typically forms: 1. **Left Shoulder:** The price of the asset declines to a certain level, then bounces back up, forming the left shoulder. 2. **Head:** After the left shoulder, the price drops further, forming a lower low. However, this decline is followed by a sharp increase in price, forming the head of the pattern. The low point of the head is usually lower than that of the left shoulder. 3. **Right Shoulder:** Following the formation of the head, there is another decline in price, but not as low as the head. This is followed by a rise in price, forming the right shoulder. The high point of the right shoulder is typically lower than that of the left shoulder. The neckline is a trendline drawn connecting the highs of the left and right shoulders. Once the price breaks above this neckline, it's considered a bullish signal, indicating a potential upward trend reversal. Traders often look for accompanying volume patterns to confirm the validity of the breakout. If the volume increases as the price breaks above the neckline, it adds further credibility to the pattern. However, it's important to note that no pattern guarantees future price movements, and traders often use additional indicators and analysis to confirm their trading decisions.
PSX:HCARShort
by B9A-88652-NisarAhmad