SNGP | Swing Trade Setup
Updated
SNGP shows a symmetrical triangle pattern, which often indicates a breakout either upwards or downwards as the price narrows into a point. In this case, the price appears to be breaking out upwards, supported by strong bullish momentum. The chart has three clear target levels: TP1 at 81.50 PKR, TP2 at 93 PKR, and TP3 at 104.64 PKR. This suggests a potential for significant upside if the breakout is sustained. Historically, the stock was in a strong downtrend from 2017 to 2020, followed by a long consolidation phase, and is now showing signs of recovery with possible upward continuation.
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Update on SNGP: Profit taking or rejection can be seen upon 81.50 due to double top pattern. One can sell their shares and can again buy on dip around 76.85 - 77 range for the next impulse upward, upon breaking 81.50 then price can test next target level of 93. Manage your trades accordingly and keep booking profits upon upward levels.
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