JSCL LONG TRADE (SECOND STRIKE) 09-06-2024JSCL LONG TRADE (SECOND STRIKE) 09-06-2024
As previously mentioned, JSCL broke out of an upward diverging channel and did a liquidity sweep, giving a sharp reaction above. Currently, in its uptrend, the stock has created a flipped institutional demand zone, providing another opportunity for a better entry. This place is considered a safe spot to enter a long trade. Notably, on a higher timeframe, JSCL is trading in an upward channel (marked in green), further supporting the bullish outlook.
🚨 TECHNICAL BUY CALL – JSCL🚨
- Buy 1: PKR 19.6 (current level)
- Buy 2: PKR 19.1
- Buy 3: PKR 18.3
- TP1: PKR 21.45
- TP2: PKR 25.0
Stop Loss: Below PKR 16.5 Closing Basis
Risk-Reward Ratio: 1:2.6
Caution: Please buy in 3 parts in buying range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
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