Prema is ready to fly againAs per both indicators Breakout level is 51.29 for takeoff again to sky. Stop loss is 39.11, Note: This is not a buy/sell trade call. It is an analysis.
PREMA trade ideas
Higher Low intact.Important to Sustain 51 - 52 on
weekly basis for further upside.
If this level is crossed with good volumes,
we may witness 59 - 60
and if 51-52 is not sustained, we may witness
36-37 again & even 26 - 27 (in extreme selling pressure)
which seems somewhat unlikely because HL has not yet broken.
HH HL still intact.
HH HL still intact.
Hidden Bullish Divergence has appeared.
We may expect the reversal only if 36 is not broken.
49-50 can be immediate targets in case of reversal.
PREMA LONG TRADESince giving galactic rally previously, Prema has been pulling back.
It has now taken support from 1H order block at 39.
Wave Volumes also point to upcoming Bull Run.
At the downside Prema protected by above mentioned Order Block and also a Bullish Breaker Block above 32. So it's fairly safe low risk high probability trade
BUY PREMA 39-45
TP1 59
TP2 65
TP3 73
SL BELOW 32
Lower Locked at 58.40 today.
Lower Locked at 58.40 today.
58 is an Important Support but
if it is not respected we may witness
price around 48.
as mentioned earlier, it should stay above 36
otherwise extreme selling cab be seen.
Bearish Weekly Candle.Bearish Weekly Candle.
Capped & then heavy selling (today).
Last candle - Doji
Immediate Support Zone is around 58 - 63.
Reversing from this support zone would
expose 75 - 77 again.
Its safe as long as it stays above 36.
Good Retracement Needed
Important Support levels are 77 , 69 & 63
in extreme selling.
a good retracement towards these levels would
open a way to new highs.
Closing just below Weekly Resistance.Closing just below Weekly Resistance.
If 36.90 is Broken, we may witness further
Selling pressure.
Sustaining 36 - 37 would again take the
price towards 49 - 52. However, Weekly
Resistances are there like 43 - 44 & then
48 - 49.
PREMA Stock Analysis: Uptrend Intact, But Is a Pullback Coming?The stock is in an uptrend, as seen from the ascending trendline support.
Recent price action shows strong bullish momentum, with consecutive green candles pushing the price higher.
A potential consolidation phase is expected before another upward move.
Short-term Demand zone 33-34 PKR
Strong Demand zone around 28-30 PKR,
PREMA-SHORTThat stock gave us 90 % profit now it will take correction so sell it here and wait for again BUY opportunity .
Retraced upto Golden PocketRetraced upto Golden Pocket of Recent
Bullish Rally which is actually a Healthy
Correction.
Now, it should take Support from 23 - 23.10
& touch 25 - 25.50 initially.
To Start its Bullish Momentum again, it needs
to break 27.50 atleast.
PREMA - PSX- Technical Analysis - BUY CallOn Daily time frame, PREMA after making sharp gains has retraced to more than 60% becoming very attractive for Buyers.
KVO has also started to change its direction upwards indication a shift of momentum coming up. On RSI, there is a Hidden Bullish Divergence in the making which indicates a very sharp up trend coming up. Therefore, buying immediately at market price will yield substantial gains in quick time.
My Trade Values :-
Buy (Mkt): 23.50 ~ 25.00
TP1: 38.50
TP2: 45.50
PREMAWe can attempt to buy PREMA from specified level if it break LH , trendline resistance , also there is bullish divergence indicate that it move upward.
SL , TP mention in chart.
PREMA is BullishPREMA has broken previous lower high and bulls seem to be in control of the price action. It is all set to move to new highs, printing higher highs and higher lows. Targets are mentioned on the chart.
PREMA Bullish BiasCurrently trading in a falling wedge pattern,stock is a buy now position having bullish divergence on RSI.
PREMA is BearishPREMA is currently in a strong downward trend, and bears are in complete control of price action. Asset is printing new lower highs and lower lows which is a sign that declining phase would continue further. Targets are mentioned on the chart.
PREMADouble Bottom around 13.40 along with
Bullish Divergence increases its chances of
Reversal towards upside.
However, if 13 is broken, ABCD & Bearish Flag
Patterns may comes in play with TP around
11.50 and 10 respectively
PREMADouble Bottom near 14.50 - 14.60
Previously Bullish Divergence seen
These 2 points are favoring Bulls.
