Bullish Trendline Support with Potential Upside Towards PkR27The price recently touched a support level near PkR23, aligned with a rising trendline (orange). Several zones are marked, including potential supply zones (red) around PkR27-29 and a demand zone (green) at PkR22. A forecasted price projection (green line) indicates potential upward movement, possibly reaching the 27-29 range, with a pullback expected afterward.
PRL trade ideas
PRL Bullish Based On Marketwide ActionTechnical Analysis: PRL - Buy Call
* Price Action: Consolidating above ascending trendline.
* Breakout: Potential uptrend above PkR25.55.
* Resistance: Initial at PkR28, intermediate at PkR30, major supply at PkR36.
* Moving Averages: Below 200-day SMA, above 50-day SMA.
* Momentum: Bullish (MACD, RSI).
* Risk Management: Stop loss below PkR23 if trendline breaks.
Overall: Bullish consolidation, potential for uptrend, but risk of downside if trendline breaks.
PRL is BullishPRL has been moving downwards and bears had complete control, however the bullish RSI divergence on daily time frame, shows that bulls are waking up to the calling and trying to assume control of the price action. If the price managed to break previous lower high and prints a higher high instead then according to Dow theory it could mark the beginning of a bullish rally. Targets are mentioned on the chart.
PRL-Sideways triangle pattern forming on the 1D time frameThe stock looks like in a sideways triangle pattern. In case we see a few volume spikes on the daily basis, we can hope for an upward break towards our TP1 of rs. 29.04. Sustaining above that could give us a weekly break out and TP2 of rs. 30.79.
PRLPRL displays a promising bullish pattern characterized by the break out from its trend line and establishing Cup & Handle pattern. Our plan entails accumulating the stock within the designated buy zone (27-28 range), while setting stop loss orders below 26. To guide our trading decisions, we've delineated two distinct targets: an immediate target around 32 upon sustaining above 30 and a final target for exiting the trade will be around 34
PRL (ANALYSIS) 📉 Market Analysis 📊
PRL Analysis:
Current Situation:
PRL is expected to fall after reaching 30.8 and retrace to form a higher low (HL).
RSI is below 70 on the daily chart.
Bollinger Bands are contracting on the weekly chart, indicating a potential reversal.
Trade Recommendation:
Action: Sell at current rates until 30.8.
Strategy: Look for opportunities to re-enter after the retracement and formation of a higher low.
Stay vigilant! 📉💼
PRL🚀 Stock Alert: PRL
📈 Investment View: Technically Bullish 📈
🔍 Quick Info:
📈 First Entry : 26.50
🎯 First Target : 27.50
🎯 Second Target : 28.15
⚠ Stop Loss: 25.70
⏳ Nature of Trade: Short Term (Scalping)
📉 Risk Level: Medium
☪ Shariah Compliant: YES
💰 Dividend Paying: NO
📰 Technical View: The price action is in uptrend after bullish divergence is observed with RSI. Long position can be considered with the stop loss below 25.70.