CPHL-Buy CallAfter listing in PSX in 2021, the instrument posted high of around 50. After that it was in bearish trend and touched low of around 19. However, during last three years, the instrument made typical Cup and handle pattern and gave breakout with huge volume. Now it is in bullish trend and making HH and HL. One can make entry at current market price and target cup and handle projection up to 80.
CPHL trade ideas
CPHL | Cup & Handle PatternCPHL is currently forming a cup and handle pattern, with the cup already completed. The stock is expected to experience a pullback as it forms the handle, with the neckline situated around Rs. 35.67. Initial support for the handle is anticipated in the range of Rs. 31.70 to Rs. 31, where a long position can be considered. A break above the neckline could encounter intermediate resistance around Rs. 40, while the pattern's projection target is approximately Rs. 49.70.
CPHL - BULL FLAG, TARGET: 35.20CPHL surpassed the 50% target at the 30.90 level and hit the upper cap at 31.59. The current momentum shows strong bullish behavior in the North, indicating that the target of 35.20 might be achieved in the next few sessions. It is suggested to stay long!
TARGET: 35.20
CPHL is BullishCPHL has given a breakout from the downward trend after bullish divergence appeared on RSI. It also successfully broke the previous lower high and printed a higher high indicating that bulls are taking control of the price action. If it forms a higher low, it could move up to new highs soon. Targets are mentioned on the chart.