Waves Breakout and Buy Idea !Waves Corporation Ltd (PSX: WAVES) – Long term Technical Setup
Waves has finally broken out of a multi-year accumulation zone after trading sideways since late 2022. The stock has cleared the major supply area around 10–11 PKR, turning that region into a fresh support base.
From here, I expect a healthy pullback into that zone (shakeout/retest) before the next leg higher. The first major resistance sits around 17.20, and a sustained breakout above that level could open the way towards the 28–30 PKR zone over the longer term.
Volume has been picking up, which suggests real money is starting to rotate in. As long as price holds above 10, the structure remains bullish.
This chart is setting up for a classic accumulation → breakout → retest → markup phase. Longer term investors may want to watch closely how it behaves on the retest before positioning for the bigger move.
