PSX PRL : Entry Points, Targets (Gain 15%--30%)Current Price: PKR 34.18
Entry Point: Around PKR 31 - 33, as this is a key demand zone
First Target: PKR 38 (Short-term resistance level)
Second Target: PKR 42 (Major resistance zone, where selling pressure might appear)
Risk Consideration:
If the stock fails to hold PKR 30, it may enter a further bearish phase.
Trade ideas
AB=CD Pattern with Bullish Flag: Key Fibonacci Levels in Play!It could be an example of a Bullish Flag.
Why am I posting it?
The reason is to show an example of the AB=CD Pattern, and it currently respected the 61.80% Fibonacci level at 22.17.
If it breaks the 61.80% level on a closing basis (Keeping in mind, it's a Weekly Chart :-) ), it could drop to 18, potentially forming a double bottom. However, if it plays out as expected, the target can be 40+!
Anyhow, I am personally not invested in it—this is just for learning purposes.
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 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! 📉💼






















