PREMA(At-Tahur Ltd.)
Price is retesting a strong horizontal support level, which previously acted as resistance and aligns with the Fibonacci golden ratio. It is trading above the upward trendline and the 55 Fib EMA, which has historically acted as dynamic support, reinforcing the bullish structure. RSI is also in sync with the setup, adding further confirmation.
The first buy is at CMP, with Buy 2 placed lower to average in on a healthy pullback. TP1 targets near-term resistance, and TP2 aligns with further upside potential. Stop loss is placed below the previous higher low on a closing basis to define risk.
Recommended Levels:
Potential upside remains as long as price sustains above the upward trendline and 55 EMA. Happy trading!
Price is retesting a strong horizontal support level, which previously acted as resistance and aligns with the Fibonacci golden ratio. It is trading above the upward trendline and the 55 Fib EMA, which has historically acted as dynamic support, reinforcing the bullish structure. RSI is also in sync with the setup, adding further confirmation.
The first buy is at CMP, with Buy 2 placed lower to average in on a healthy pullback. TP1 targets near-term resistance, and TP2 aligns with further upside potential. Stop loss is placed below the previous higher low on a closing basis to define risk.
Recommended Levels:
- Buy 1: 46.40 (CMP)
- Buy 2: 44.00
- Stop Loss: Closing below 40.00
- Take Profit 1: 56.30
- Take Profit 2: 62.50
- Take Profit 3: Ride the trend with a trailing stop
Potential upside remains as long as price sustains above the upward trendline and 55 EMA. Happy trading!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.