MEBL trade ideas
MEBL - PSX - Technical AnalysisMEBL is in sideways for almost seven months now. It is very much likely to continue in that fashion as interest rates cut is expected further.
Therefore, buy on parallel channel's bottom and sell on its top is recommended.
GANN support & Resistance fanes and Fib retracement tools have been used. Price has honoured both GANN and Fibonacci for this SCRIPT. Therefore, one can draw confluence while taking trades in this SCRIPT.
RSI is at a mid-range emphasizing on continuation of small uptrend and then fall down. KVO is also a bit bullish (above Zero), but KVO indicator line has crossed its trigger line as well which may hint at price going up.
Trade Values
Scenario ONE:
Buy-1 (Mkt): 246.64
TP: 271.75
Scenario TWO:
Buy-2: 284 (If price breaks the resistance)
TP-2: 327
Stop Loss: 207
MEBL, Bullish Rally ExpectedStarting with Bullish channel
Rectangular consolidation
After bearish Divergence, Consolidation is almost completed
Divergence diluted and RSI Synced
Seasonals Support Bullish moment as NOV is bullish 9/12 Times
Entry on break of rectangle
Stoploss below 235
A new bullish rally is expected
MEBLMEBL : The price action is currently positioned above the 50-day Exponential Moving Average (EMA), exhibiting a formation of small candles at the support level. This pattern suggests that the asset is maintaining its support zone. The Moving Average Convergence Divergence (MACD) indicator is situated above the neutral line, which implies potential for upward momentum. It is advisable to consider initiating a long position around the price level of 239, with a stop-loss set at 227 and a potential target of 263.
Meezan Bank Advance AnalysisUptrend Restart
Buy Signal:
Start buying at 212
Stop loss: 210
Take Profit: 224
Note: This is a short call, so wait and observe before taking action.
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MEBL - SUPPORT S3 ON DAILY PIVOTMEBL is currently on the S3 Level of Daily Pivot and has taken support at this level. It has also retraced more than 0.786 Fib level. if it is not able to sustain the current Price level then expected to go further down, levels given. on the contrary, for upside, levels also given.