PSO trade ideas
PSOAs highlighted before, PSO is targeting towards 196.50, was recommended when it was at 169 after the breakout of the descending trend line. For new entries it can be bought at current price of 183 - 184 for the target of 196.50. If this level breaks then second and third targets are 200 and 220 respectively.
PSOPSO is presently testing its resistance level of 123.60, and there is a higher likelihood of its facing rejection at this point. It would be prudent to consider potential entry or support around the 115.45 support level instead with the stop loss below 112.
PSO head and shoulder formed. Going short & entry again on PRZPSO already formed a head and shoulder. I have been tracing this for a while. Hence going short and then will do a reversal trade. This trade I anticipated the moment head formation was completing and the right shoulder started forming. Hence went short. Now based on the projection derived from the top of the head to the neckline, a potential reversal zone should be forming around an area where a previously low is present making a candidate for double bottom. I will evaluate the bullish divergence around double bottom and based on the divergence and confirmation of the HH and HL, I will go long. At the moment waiting patiently and anticipating the formation of the double bottom. Additionally I can short the stock until the PRZ as well. Hence I will post a second link for the same setup.
PSO head and shoulder pattern with PRZ around double bottomPSO already formed a head and shoulder. I have been tracing this for a while. Hence going short and then will do a reversal trade. This trade I anticipated the moment head formation was completing and the right shoulder started forming. Hence went short. Now based on the projection derived from the top of the head to the neckline, a potential reversal zone should be forming around an area where a previously low is present making a candidate for double bottom. I will evaluate the bullish divergence around double bottom and based on the divergence and confirmation of the HH and HL, I will go long. At the moment waiting patiently and anticipating the formation of the double bottom. Additionally I can short the stock until the PRZ as well. Hence I will post a second link for the same setup.
PSO Head and Shoulder formed, waiting for PRZPSO already formed a head and shoulder. I have tracing this for a while. Based on the projection derived from the top of the head to the neckline, a potential reversal zone should be forming around an area where a previously low is present making a candidate for double bottom. I will evaluate the bullish divergence around double bottom and based on the divergence and confirmation of the HH and HL, I will go long. At the moment waiting patiently and anticipating the formation of the double bottom.
PSX: PSO Head and Shoulder pattern PSX: PSO Head and Shoulder pattern designed on the chart expected reversal projection zone created PRZ.
PSO Long IdeaPSO Trade Idea
Price should respect 115-117 area for any upside move
S1 115-116
S2 110-111
Tp1 127
Tp2 133
Sl below 105
*idea shared for educational purpose, no buy sell call
PSX: PSO Up TrendTrending Market (Bullish Trend)
the trend is expected to continue as there is no divergence.
STOP LOSS: 116
BUY LIMIT: 126
TP 1: 136
TP 2: 146
Today's high is considered a new HH so there will be retracement and we'll buy at 126 and possibly ride up trend.
PSO-PAKISTAN STATE OIL (STOCK)PSO-PAKISTN STATE OIL has taken deep correction, now its time to getup. Tehcnically bullish
Wait for retracement for Bearish positionShort term bullish retracement expected on long term bearish trend. Expected zone to retrace.
