LUCK: Bullish (HHs & HLs)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.
LKCS trade ideas
LUCKPlan1
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 bullish run coming to an endLUCK 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.
LUCK - Turning pointLucky 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 BullishLUCK 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.
Potential reversal zoneLUCK 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 support this move.
Lets see how it turns out!
LUCK - PSX - Bullish TrendLUCK - 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.
Lucky Cement on PSX is rangeboundLuck 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#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. 🔝
LUCK - Trend Continuationupside trend is likely to continue as price moving is parallel Channel with no divergence.
