ArifeenRavin

ArifeenRavin

2H chart indicate RSI near oversold. Daily chart show the share price has dropped towards 20EMA band. A bounce towards 55EMA would be closer to 43 with quarterly results are expected in middle of May. A bag of Cement price increase by Rs 100 will be help improve the margins. It is also expected the company to commence operations in the upgraded grinding mill in...

ArifeenRavin

BTC completed a Top H&S pattern on the daily time frame. Setting up its support $56600 in the near to MT so far untested. Resistance is at $69000 is now confirmed when BTC failed twice to break the resistance. #WYKOFF trading strategy indicate preliminary target of $61500 met, when BTC recorded 60775, with secondary target further below yet to test. We will...

ArifeenRavin

Typical #WYCKOFF accumulation phase. A clean break out with potential to form the next mark up phase.

ArifeenRavin

The share looks to be in the final stage of marking its sign og strength and readying to breakout of its long consolidation range between 100-115 levels. We observe strong interest building up if we see the recent volume bars. Strong correlation that increase volumes attractive with higher prices.

ArifeenRavin

The share has been consolidating since last october between 75-65 levels. The Co has been able to improve its export business in great strides over the last few years. This ensures steady flow of export revenue that can be utilised for import of raw material required for production.

ArifeenRavin

A possible butterfly pattern is in progress in the BTCUSDT 1D time frame. Resistance 30132 if broken then could attempt earlier high point 31000 and towards 32095 the extension at 1.27 on fib. The pattern may invalidate if 27667 is broken.

ArifeenRavin

ASI is setting higher support levels, breaking some of the key resistance levels. Higher highs and Higher Lows. Overall sentiment is turning positive, with IMF Board approval about to take place. LKR strengthening against USD and other foreign currencies Rates set to decline Inflation to adjust into single digit later Economy is trying to back on its feet Loss...

ArifeenRavin

Possible movement towards 25K, after BTC got inside the trading range.

ArifeenRavin Updated 

Just noticed the Index has completed the Wave #5 of the bullish megaphone pattern. I have drawn the new development today using white lines to make it more clear to you. I did not notice if anyone in the community noted this pattern as yet. For every megaphone pattern there should be a prior trend. Prior trend is confirmed, and its bullish in this case, hence a...

ArifeenRavin

The share has been consolidation for some time around 10-12 range. Now the share has broke out and trading near 14. There is a possibility in the ST to test 15+

ArifeenRavin

A quick update frens! Holding the pivot line will be crucial around the 23000 level. A flip back to 25000 and beyond cant be ruled out. Will Bulls re-enter around 23000 back 25000 run? Share your thoughts. Good luck

ArifeenRavin

Here is my chart update on CSEASI (CSELK) for the next few months.

ArifeenRavin Updated 

The index has past resistance around the 9300 mark. The ST bull flag has broken out near the 9300, but not quite yet successfully though. A possible flag and pole pattern break out indicate a possibility to the Index finding resistance around 9600. Support wise there are 2 levels marked in red horizontal lines below current levels. Presently the Index on a...

ArifeenRavin

9300 Resistance has failed to breach. Flag and Pole pattern failed to materialize. support 8800 has now turned resistance. immediate turnaround is expected around its interim support of 8500. Failure will push the index to a long-term support of 8100-8000. Indecision about holding the LG election is also contributing to the downside coupled with Electricity tariff...

ArifeenRavin

Results for the 6 Months ending is 18Rs EPS. Upcoming earnings for the year to have a bearing on the future direction of the share price. PE wise the share is attractive under 70rs. The company is exposed to Export markets, and thus an automatic hedge. Support is expected to come below 70rs. Technically share price declined today on heavy selling pressure. This...

ArifeenRavin

Earnings for the last quarter is yet to publish. Results will be the key driver along with overall market sentiment. Based on Fib levels, currently trading around the golden ratio with a overbearing of the results. Trading near psychological support 75Rs. The POC is well above the CMP. Support to come around 70-65 levels.

ArifeenRavin

Key resistance to break for $BTCUSDT bulls will be the $23000 mark.Testing of $25000 would be even better. At the moment a possible Top H&S pattern is in formation which we all know may not be liked by the long positions, most importantly, its in the final leg of completion. The right shoulder hasnt formed as yet, i take a neutral position although bears will have...