Analysis:
The stock of PSX is showing a strong uptrend pattern, forming higher highs and higher lows. The current momentum remains bullish, supported by increasing trading volumes and positive indicators.
RSI: Currently around 72, indicating strong bullish momentum (slightly overbought but still healthy).
MACD: Bullish crossover, confirming upward momentum continuation.
Chart Pattern: The ABCD pattern projects a potential target near PKR 50.43, which aligns with the measured move projection.
Trade Setup:
Buy: At current market price (around PKR 41.00)
Target Price (TP): PKR 50.00
Stop Loss (SL): PKR 35.20
Time Frame: Weekly (medium-term outlook)
Remarks:
As long as the price holds above 35.20, the bullish structure remains intact. A breakout above 42 may accelerate the move toward the 50 target zone.
The stock of PSX is showing a strong uptrend pattern, forming higher highs and higher lows. The current momentum remains bullish, supported by increasing trading volumes and positive indicators.
RSI: Currently around 72, indicating strong bullish momentum (slightly overbought but still healthy).
MACD: Bullish crossover, confirming upward momentum continuation.
Chart Pattern: The ABCD pattern projects a potential target near PKR 50.43, which aligns with the measured move projection.
Trade Setup:
Buy: At current market price (around PKR 41.00)
Target Price (TP): PKR 50.00
Stop Loss (SL): PKR 35.20
Time Frame: Weekly (medium-term outlook)
Remarks:
As long as the price holds above 35.20, the bullish structure remains intact. A breakout above 42 may accelerate the move toward the 50 target zone.
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.
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.