STPL Technical Analysis (Pakistan Stock Exchange)
Based on a thorough analysis of STPL's time cycles and price structure, the stock exhibits a pattern similar to the one observed between 2014 and 2016. During that period, STPL spent significant time forming a structured five-point pattern (1, 2, 3, 4, 5), where point 3 marked a key high that eventually broke out, reaching a peak of 40.
Currently, the stock is forming an almost identical pattern, again showing a clear five-point structure (1, 2, 3, 4, 5), with point 3 acting as a crucial high—mirroring the previous cycle.
The key resistance at 9.3 (corresponding to the previous point 3 high) was recently tested, and the price touched 9.45 with significant volume on the last weak candle. Following this, the price pulled back, creating a potential entry zone. A strong candle formation at this level would confirm a favorable entry opportunity.
Based on this analysis:
First target: 20
Second target: 30
Ultimate target: 40
All indications suggest that the stock is likely to achieve these targets smoothly, following the same cycle and character as the previous accumulation and breakout pattern.
Based on a thorough analysis of STPL's time cycles and price structure, the stock exhibits a pattern similar to the one observed between 2014 and 2016. During that period, STPL spent significant time forming a structured five-point pattern (1, 2, 3, 4, 5), where point 3 marked a key high that eventually broke out, reaching a peak of 40.
Currently, the stock is forming an almost identical pattern, again showing a clear five-point structure (1, 2, 3, 4, 5), with point 3 acting as a crucial high—mirroring the previous cycle.
The key resistance at 9.3 (corresponding to the previous point 3 high) was recently tested, and the price touched 9.45 with significant volume on the last weak candle. Following this, the price pulled back, creating a potential entry zone. A strong candle formation at this level would confirm a favorable entry opportunity.
Based on this analysis:
First target: 20
Second target: 30
Ultimate target: 40
All indications suggest that the stock is likely to achieve these targets smoothly, following the same cycle and character as the previous accumulation and breakout pattern.
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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.