Long
PSMC C&H BREAKOUT CONTINUATION
📈 PSMC Technical Analysis - Short-Term & Medium-Term Outlook 📉
1. 🚀 PSMC Chart Pattern: Cup & Handle Breakout Continuation
PSMC, Pakistan State Oil Company, is displaying a potential bullish trend continuation pattern known as a Cup & Handle (C&H) following a breakout.
2. 🎯 Short-Term Target: 139 Level
In the short term, PSMC is poised to test the 61.80% Fibonacci retracement level at 139. This level is the initial target for traders and investors.
3. 🎯 Medium-Term Targets: 154, 174, & 190 Levels
Looking ahead, PSMC's upward trajectory is expected to extend in the medium-term. Key target levels include 154, 174, and 190. These levels indicate the potential for significant price appreciation.
4. 📊 Broader Perspective Advised
For investors, it is crucial to maintain a broader perspective on the current rally. The market's overall health, external factors, and the stock's fundamental analysis should be considered alongside technical indicators.
5. 🛡️ Stop-Loss Risk Management
To manage risk effectively, implement a stop-loss strategy. The stop-loss level can be set below key support levels or a percentage below the entry point, ensuring that potential losses are controlled.
6. 🚦 Technical Indicators
Monitor technical indicators such as moving averages, RSI, and MACD to confirm the stock's momentum and potential reversals.
1. 🚀 PSMC Chart Pattern: Cup & Handle Breakout Continuation
PSMC, Pakistan State Oil Company, is displaying a potential bullish trend continuation pattern known as a Cup & Handle (C&H) following a breakout.
2. 🎯 Short-Term Target: 139 Level
In the short term, PSMC is poised to test the 61.80% Fibonacci retracement level at 139. This level is the initial target for traders and investors.
3. 🎯 Medium-Term Targets: 154, 174, & 190 Levels
Looking ahead, PSMC's upward trajectory is expected to extend in the medium-term. Key target levels include 154, 174, and 190. These levels indicate the potential for significant price appreciation.
4. 📊 Broader Perspective Advised
For investors, it is crucial to maintain a broader perspective on the current rally. The market's overall health, external factors, and the stock's fundamental analysis should be considered alongside technical indicators.
5. 🛡️ Stop-Loss Risk Management
To manage risk effectively, implement a stop-loss strategy. The stop-loss level can be set below key support levels or a percentage below the entry point, ensuring that potential losses are controlled.
6. 🚦 Technical Indicators
Monitor technical indicators such as moving averages, RSI, and MACD to confirm the stock's momentum and potential reversals.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.