LUCKY CEMENT made a short rally upwards and is now making a bull flag, in this case if broke above the flag pole, it can continue its upward trend.
Plan1 Buy Above 781 Sell around 850 - 870 Stoploss 710 (Closing basis) Plan2 Buy Above 833 Sell around 900 - 930 then 1000 Stoploss 718
LUCK is looking really good, as it has printed a higher high and higher low which could mark the beginning of a bullish move. Targets are mentioned on the chart.
LUCK is currently in bullish trend on 4hr time frame and forming HHs and HLs, so wait for the new HLs to take a new buy entry.
Plan1 Buy Above 760 Sell around 767 - 770 then 775 Stoploss 751 (Closing basis) Plan2 Buy around 750 - 752 Sell around 759 - 760 Stoploss 744 (Closing basis)
LUCK has had the long bullish run starting from the 500 PKR. But looking at the charts, it seems the days are up for the bullish run. Both the divergence are indicating for some correction. Not a bad idea to book some PSX:LUCK profits though.
Lucky Cement is boosting a good growth. However, looking at the charts, we see both Volume and RSI Divergence in play. This is possibly a turning point for LUCK and a place to book profits if you are holding the stock.
LUCK is in strong bullish momentum and is expected to continue the rally, after successful breakout from previous higher high. Targets are mentioned on the chart.
LUCK will be at a cross point at 702 levels, where we should look out for potential reversal pattern. This might be an elliot correction wave leading to long term bearish pattern and earnings have decreased as well which could support it. On the other hand, we can see bullish pattern, if market decide to get support from 606.32 levels and decreasing oil prices can...
LUCK - Inverted head and shoulder pattern is witnessed along with a bullish divergence on the RSI. If neckline is broken entry can be taken with 1:1 and 1:2 risk reward. Take profit 2 is kept just below the major resistance area.
Luck Cement (LUCK) is observed to be rangebound between 577.94(S1) and 589.19(R1) on !H timeframe. However, in anticipation of the previous short-term uptrend, a Buy Stop has been placed above R2 on 596.48 with SL below R1 588.04. TP1 and TP2 have been placed propotionately.
#LUCK - DOUBLE TOP IN PLAY!! ▪️price rejecting from the top @ 540🔻 ▪️highly overbought 🔻 ▪️immediate support lies b/w around 518 - 506 ▪️BREAK ABOVE 540, WILL EXTEND GAINS 550 - 554 - 556. 🔝
upside trend is likely to continue as price moving is parallel Channel with no divergence.
luck shortsetup reached to resistance so possiable chance of going down