HH HL on the way.
Closed at 49.15 (03-06-2025)
HH HL on the way.
Now Important to Stay above 44 - 45.
Inverse H & S pattern target is around 60.
Bullish Flag pattern target is around 80.
SPEL trade ideas
SPEL LONG TRADE (SECOND STRIKE)SPEL LONG TRADE (SECOND STRIKE)
SPEL went into uptrend with a Spike in July 2024. Making a high of 56, it pulled back in Wyckoff Re-Accumulation for months. Now it is in upward reversal as indicated by Volume Distribution. Price is trading above EMA-20. It showed a healthy pull back and now resuming its uptrend journey. During this progression, it has made an Axial Line on Day TF, which is a low-risk spot to enter the trade.
🚨 TECHNICAL BUY CALL – SPEL🚨
BUY1: 45.14
BUY2: 43.5
BUY3: 42.6
📈 TP : Rs. 51.86
📈 TP : Rs. 57.27
🛑 STOP LOSS: BELOW Rs. 39 (Daily Close)
📊 RISK-REWARD: 1:2.9
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.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
SPEL-LONGAfter a long consolidation now the time is pull up towards new High in time purchase and hold with patience then take rewards is the key of success.
Hidden Bullish Divergence on Weekly TF.Hidden Bullish Divergence on Weekly TF.
Crossing & Sustaining 44.20 may lead it
towards 55 initially & then towards 65 -70 -80
if there wont be any Bearish Divergence.
But if it closes below 30, more Selling Pressure
can be seen.
No Bearish Divergence yet on Bigger TF, but..No Bearish Divergence yet on Bigger TF.
Strong Support around 36 - 37 which is
being respected.
Immediate Support seems to be around
38.30 - 38.50
Immediate Resistance is around 45 - 46
& then around 56 - 57.
Crossing & Sustaining 57 may lead it towards
New Highs.
SpelAnother cyclical stocks to benefit from lower interest rates. Retraced perfectly from all time highs.
It's in a good risk to reward position
PSX - SPELSPEL is close to break out with Good Volume.
Trade Plan:
Entry: CMP 45.22
TP1: 56.87
SL: 31.5
Influenced by B&B Show
SPEL offers 78% upside from these levels50% of the planned quantity should be entered at Rs. 45.26 with SL of 31. Remaining 50% quantity can be added once pole is breakout @ 80.72 which is a 78% capital upside.
The stock has retraced to 0.618 level @ 31 which is the HL, now the stock is ready to define its HH that potentially be the flag pole projection being out ultimate Target
SPEL | Inverse Head & ShoulderForming Inverse Head & Shoulder Pattern
Entry Price: 44.70
TP1: 44.70 (towards Neckline resistance)
TP2: 50 (if breaks neckline)
TP3: 56 (Invers H&S Projection target)
SL: 36
Currently, near Monthly Support level around 39.50 - 40
Though Bullish on Monthly TF, but
Weekly closing is important; above 41
is a positive trigger. Still, 45 needs to be
crossed for a Bullish momentum.
However, Bearish ABCD pattern also
seems in play; targeting around 23 - 24.
SPEL -PSX Technical Analysis
Price after breaking the bearish parallel channel went sideways. Now it can go either way up or down. RSI indicator suggest that it is likely to continue going down.
Therefore, wait till it crosses Rs 42.25 value to initiate Buy.
EMA 89 suggests that it is still in up-trend but price is closing on it and hence may go down.
