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Lanka IOC Plc

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LANKA IOC PLC : LIOC.N0000 : CSETechnical Analysis (Chart Patterns) Lanka IOC (LIOC) is poised to break out from a descending wedge/channel pattern. • Upward momentum is expected to continue in the near term, supported by positive sentiment following strong Q2 earnings. Potential Pattern Targets Initial Target: LKR 142.25 Despite its strong fundamentals, LIOC remains underappreciated—overshadowed by FOMO-driven activity in the financial sector. 📌 A complete discussion will follow
CSELK:LIOC.N0000
by HR2302
LIOC.N00001. Key Technical Observations: Price Breakout: The stock has broken above a critical resistance level at 122 LKR (DR). This breakout indicates strong bullish momentum in the short term. Trendline Resistance: The stock is currently testing the descending trendline resistance (black diagonal line). A clear breakout above this trendline with volume confirmation could trigger a move toward higher levels. Support and Resistance Levels: Immediate Resistance: 124.50 LKR (current level) – needs a daily close above this zone to confirm a continuation of the uptrend. Support Levels: 117.75 LKR (DM): Acts as immediate support. 115.75 LKR (DS): A fallback support zone. 111 LKR (WM): A key weekly support zone. 2. Indicators: RSI (Relative Strength Index): RSI is at 74.14, indicating that the stock is overbought. This suggests the possibility of a short-term pullback or consolidation. MACD (Moving Average Convergence Divergence): The MACD line has crossed above the signal line with increasing green histogram bars, signaling a bullish crossover and momentum. 3. Volume and Sentiment: The breakout above 122 LKR occurred with significant volume, signaling strong buyer interest and bullish sentiment. Volume confirmation is crucial for validating further upward moves. 4. Potential Targets: If the stock breaks above the current 124.50 resistance and the descending trendline, the next potential targets are: 130 - 135 LKR Zone (based on previous highs). Followed by higher levels depending on momentum. Failure to sustain above 124.50 could see the price retesting supports at 117.75 LKR or 111 LKR.
CSELK:LIOC.N0000Long
by rukshan2102
LIOC.N0000LIOC Update on 01/11/2023 LIOC trying to break 50 Daily MA line. If LIOC can close few more daily candle 50 DMA line, then LIOC might run till 200 Daily MA level. So short term target will be 150. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:LIOC.N0000Long
by rukshan2102
LIOC - Bullish divergence in daily chartEntry Point: 120 to 130 Profit Target: 180-200 Stop-Loss: 110 Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:LIOC.N0000Long
by rukshan2102
LIOC.N - LANKA IOC PLCDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc. CSELK:LIOC.N0000 LIOC Weekly Looking at the stage analyzing method in the weekly chart the stock price is at the stage 4 level now. it has taken support from the Fibonacci golden pocket and seems to be holding that range in the daily chart. On the weekly chart, the RSI trend line hasn't been broken. LIOC Daily On the daily chart, the MA 20 is the immediate resistance which is also near the GP. Breaking above the supporting trend line created by the descending wedge might take the price level to MA 50 levels which is resistance also in Confluence with the upper trendline of the descending wedge.
CSELK:LIOC.N0000
by Captain_Pathum
LIOC.N - LANKA IOC PLCDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock. Rejected by the Resistance 172.00-179.50 the share dropped with low volumes. MA 20 looking to cross the MA 200 to create a death cross. We are now looking at the golden pocket support zone. Previously the stock had bounced back after reaching this zone.
CSELK:LIOC.N0000
by Captain_Pathum
LIOC.N - LANKA IOC PLCDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock. The share price moved up breaching the important resistance zone. Maintaining above this level is very important so that the upward momentum can be maintained. Meantime it has created a falling wedge pattern too which is also another bullish signal.
CSELK:LIOC.N0000
by Captain_Pathum
LIOC.N - LANKA IOC PLCDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock. 22-03-2023 Downtrend 20 MA crossed the 50 MA showing a downtrend. 23-03-2023 Price broke down the support level which was previously created with a double bottom pattern. 28-03-2023 Double bottom support failed and share price dipped further down towards the Crucial Support 156.00 - 162.50 Golden Pocket. 29-03-2023 The share price bounced back from the golden pocket support. 31-03-2023 The previous double bottom support is now acting as a resistance 172.00 - 179.25. Share price was trying to make a breakthrough from the resistance.
CSELK:LIOC.N0000
by Captain_Pathum