Image PSXImage script can shows great bullish momentum due to inside buy back of the shares, follow the trade plan according to give TP and SL.
IMAGE trade ideas
IMAGE - PSX - Buy Call Fundamentally it is looking strong but in End June 2024 it gave negative earnings (loss). Therefore, it went downhill. However, recent inside buying of 2 Mil shares by its director suggest upcoming big earnings which are evident from quarterly report.
Technically, it has dropped below parallel channel. Now after bouncing from a strong support level, it is making a triangle pattern. If price breakout upwards from here, then we will see a very sharp up trend lasting for 2 to 3 weeks. If it bounces of the even lower support (as there is no bullish RSI divergence seen yet) then it will take some more time to reach TPs.
Therefore, it is expected to give 35% gain in 6 weeks.
My Trade Values:
Buy 1 (Instant) : 13.20 , Buy 2: 12.60 , Buy 3: 11.60
Stop Loss: 11.28
TP1: 15.60 , TP2:16.90 , TP3: 18.00
Monthly Closing is ImportantUnfortunately, it did not move as expected technically.
However, Monday's Closing is Important.
Those who are holding from High Side, and want Quick
Gain out of it, may bring their average price down by
Buying on Dips and Selling on Strengths.
BUT MONDAY'S CLOSING IS IMPORTANT! Lets Pray for the Best!
Image Ltd: Falling Wedge PatternImage Limited is currently in falling wedge which is bullish pattern, we can take buy entry after the break of HL. There is bullish diversion on RSI which is showing bulls can push the price high.
Bullish Divergence on Hourly TFBullish Divergence on Hourly TF
Bearish Flag Pattern completes around 12.50 - 12.70
Wait for few hourly candles at this level for Fresh Entry
IMAGEImage is currently testing its resistance level of around 14.25. Which can be considerable because Bullish candel is formed which leads price to next resistance of around 16.50 (target). Risk is defined below 13.
