MTL LOW RISK LONG TRADEMTL has given breakout of its downward channel and also taken support from a long term trendline, furthermore it also successfully established a Spring. It is low risk trade.
Buy MTL 600-620
TP1 690
TP2 760
SL 580
MTL trade ideas
Mtl is above breakout level of 624Mtl is above breakout level of 624, and it is expected to cross 650 and 700 level.
Note: this is not a buy sell trade call. Trade at your own will and use stop loss.
MTL*Head & Shoulders Pattern: A potential head and shoulders pattern is visible, which is a bearish reversal structure
but still no any negative sign RSI moving in range between 30-70
*Safe Buying Zone: Marked around 615-620 , indicating a breakout level where price stability could confirm an upward move.
*Bullish Approach: Buy if price sustains above 615-620 with targets toward 640 and 680
*Bearish Approach: If the price breaks below 474.73 , it could confirm the head and shoulders breakdown, leading to a further drop.
MTL has hit its channel bottomNow it will travel upwards. Next targets are 670, 750 and ultimately 866 (Fib 1.618).
This is not a buy / sell call.
Bullish on Monthly TF.
Bearish ABCD Pattern seems to appear
with Potential Targets around 900+
However, 690 - 790 is an Important Zone
that needs to Cross & Sustain for further Upside.
Immediate Support can be the CMP if 615 is
not Broken.
Important Support Zone seems to be in the
range of 575 - 605.
Should not break 560 at least, otherwise more
selling pressure can be observed.
MTL (Millat Tractor Limited)As our previous signal Hit TP 🎯, you can check our previous signal.
Now it can retrace down 641 ~ 662 Fib Golden Zone and It may go up again after retracement.
Stop Loss would be 635.
MTL Broke th Retracement LineMTL is bounced from High 684 into Fibonacci Golden Zone
and expected to go up with first Target 🎯Price can be 684
Stopp Loss should be: 602
Bullish 🐂
MTL, Bullish RectangleWeekly Bullish Channel
Currently Trading in rectagular accumulation
Retest of weekly bullish channel
Now towards new highs
Entry upon break of rectangle
Entry 680
SL 626
Target Channel top 850-900
Millat Tractor - Break out from Triangle signals Bearish RunMillat Tractor has broken out of Ascending Triangle pattern. Price has sustained in lower half of RSI as well. We are in for a bearish run.
MTL MTL Expected move 570, consolidation would be a good sign to start the bullish move, if the price needs to cross 615 to start a Bullish trend. Failure or closing below 570 again leads to a below Green Demand Zone.
Millat Tractors Ltd (MTL)Recommendation: Buy
Target Price : 676.85
Buy : Current price
Stop Loss: 515.27
Bearish divergence in MTLA bearish divergence is visible in MTL in a daily timeframe. There is a possibility that the current uptrend will reverse into a downtrend. If the current HL is broken, taking a short position with the indicated levels in the chart will be a good point.
Trend is Bullish.
Current Resistance is around 680.
It should Not Break 568 in worst case.
However, Trendline Support should be respected.
MTL PSX KSE100Price is in Up-Trend marking HH, and HL respectively through the parallel channel.
No Divergence was seen on (RSI).
Price is Near the support line, previously multiple times the price honor channel's bottom line.
Bears lose control over Volumes and bulls take the charge.
Price anticipating to form AB=CD harmonic pattern.
Keep an eye on it!The price movement is exhibiting a pattern of rejection from a descending trend line. Presently, support is delineated within a range of 550-555, constituting a trial of the ascending trend line, from which a retracement is anticipated. The 50% retracement level is situated at approximately 615, serving as a test of the descending trend line, which functions as a resistance threshold, potentially eliciting further rejection. Should the trend line breach and maintain a position above this level, subsequent resistance is projected at approximately 642 and 676. Conversely, a breach of the support at 550 would likely sustain bearish momentum.
MTL ANALYSIS(INTRADAY/SHORT SWING)MTL appears poised to reach new highs not seen since December. However, there's a formidable resistance at the monthly channel top, indicating a potential reversal. 📈 Despite this, bullish signals from key indicators like RSI above 70, along with a positive ADX and DI+, suggest a favorable outlook for long positions. 🚀 Let's remain optimistic and anticipate positive developments.
Consider selling a portion of your position, around 30-50%, when MTL reaches the range of 670-680. This strategy allows you to secure profits while staying exposed to potential further upside movements. 📉📈
MTL - ACCUMULATION PHASEMTL is in accumulation phase on daily chart, it might go upward in the coming days. if it breaks the supports then it might fall more below.
MTL - UPTRENDMTL is going to break its previous lower high and might reverse the trend in upward direction.
MTL - BearishMTL is showing downwards trend, making Lower Highs and Lower Lows which indicates a bearish trend.
MTL🚀 Stock Alert: MTL
📈 Investment View: Technically Bullish 📈
🔍 Quick Info:
📈 Entry Range: 550
🎯 Targets : 600 (9.09%)
⚠ Stop Loss: 525
🏅 Risk & Reward Ratio = 1 : 2
⏳ Nature of Trade: Short Term (Scalping)
📉 Risk Level: Medium
☪ Shariah Compliant: YES
💰 Dividend Paying: YES
📰 Technical View: Break out and retest is observed from the trend line as shown in the technical chart. Long position can be considered around 550 for the target of 600. Stop loss can be placed below 525.
📰 Fundamental View: In Q1 FY24, Millat saw strong performance with 7,187 units sold, a 347% increase in profit, and a 48.27% rise in sales compared to last year. Revenues soared by 199%, reaching PKR 22.62 billion. Gross margins improved to 23.43%. With relaxed import regulations, sales are expected to continue growing. Recent data shows a 10% increase in units sold in Q2FY24. Expected EPS for 1HFY24 is PKR 27.5, with a likely dividend of PKR 25 per share. Millat's market dominance and focus on the agri-economy make it an attractive investment, especially if prices dip.
MTL PSX KSE1001. Price action can be seen due to outstanding results
2. Any closing above 570 leads to 600 --> 630 --> 680
3. 9 March 2024 I see a price of MTL around 850
