PLRThe stock has formed a ascending triangle pattern. If the stock breaks out above the resistance range of 7.70 to 7.90, it could potentially reach the 9.10 level. However, if there is strong resistance, the stock may attempt to find support at the pattern's bottom around 7 levels.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
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EDEN | Broken Inverted H&SThe stock has broken above the inverted head and shoulders pattern, which suggests a potential upward trend. Based on Fibonacci retracement levels and pattern target, it is possible that the stock may reach retracement level 0.382 at around 19 levels, or even Fib Retracement 0.5 at 20 levels.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
JETS | Ascending Triangle BreakoutThe stock has broken out of the ascending triangle pattern with above average volume. there is a possibility that it may retest 7.20 levels for support. Eventually it should reach Fibonacci retracement level of 0.236 to test gap resistance.
To manage risk, Stop-loss can go below 7.20 levels or previous higher low of 6.8.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
HHL | At ResistanceThe stock has progressed through an ascending price channel until it reached the descending trendline where it encountered resistance. If the price fails to break through the trendline, it may seek support at the bottom of the price channel.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
BIL | Taking a wait and see approach. Since the stock has invalidated the inverted head and shoulder pattern shared in my previous chart, it may be best to take a wait-and-see approach. A bullish scenario would involve the stock staying above the ascending trendline while the RSI remains above its descending trendline. However, if the price or RSI closes below both trendlines, it may indicate a bearish continuation of price movement.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
ACLThe stock has formed an Inverted Head and Shoulders pattern within a Descending Triangle. Traders could consider placing their stop loss at the previous higher low of 72. If the neckline around the 77 range is broken, it's possible that the stock may break out of the triangle pattern and move higher.
LWL | Inverted H&S ?The stock has broken above the descending trendline resistance, but has found resistance at 52.80 levels. It is possible that the stock is in the process of creating an inverted head and shoulders pattern. If that's the case, we may see the price finding support around the 10-day and 30-day moving averages around 50 levels. Eventually a breakout above the neckline at 52.80 levels will likely take the stock towards 58.5 levels.
LIOCSince the stock has not yet broken above its descending trendline resistance, it may be best to observe this counter for the time being.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
CSE ASI & SL20 | A Bullish Frenzy!The CSE (Colombo Stock Exchange) appears to have a promising future as both indices have broken above the rising wedge and ascending triangle patterns in which they were consolidating for several months. Furthermore, inverted head and shoulder patterns have formed within these patterns.
According to the targets obtained from the inverted head and shoulder patterns, the ASI (All Share Price Index) is expected to reach 10,135 levels at Fibonacci retracement of 0.382, and the S&P SL20 should reach 3,128 levels at its Fibonacci retracement of 0.382.
Similarly, based on the targets derived from the rising wedge and ascending triangle patterns, the ASI is expected to reach around 10,550 levels at Fibonacci retracement of 0.618, and the S&P SL20 should reach 3,400 levels at Fibonacci retracement of 3 and 3.272.
However, there is a possibility that both indices may face some resistance for a short while around Fibonacci retracement of 1.618 at 9,837 and 3,032 levels for ASI and SL20, respectively.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock.
PACK | Testing Anchored VWAPThe stock has created a bearish divergence on the relative strength index (RSI) by failing to break above anchored volume-weighted average price (VWAP) and Fibonacci retracement levels around Rs. 16.70 twice.
The stock cannot be considered bullish unless the previous higher high and anchored VWAP resistance levels are broken.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
HAYLThe stock has encountered resistance around the 200-day moving average and the expanding triangle pattern top. With the formation of a lower high, it is safer to set the stop-loss below the previous higher low of Rs. 73.90.
A cup and handle pattern will be created If the stock manages to break above the previous higher high of Rs. 78.90.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
CSE ASI & SL20 | Inverted H&SAfter finding support from Fibonacci retracement levels 0.382 (SL20) and 0.236 (ASI), both indices are now heading towards their previous higher high levels to potentially retest them. This could create inverted head and shoulder patterns, where a breakout above neckline (9,415 ASI and (2875 SL20) leading to a potential much stronger uptrend.
Although there is a bearish divergence on the Relative Strength Index (RSI) on the All Share Index, and the S&P SL 20 being at the trendline resistance, an invalidation of the divergence and a break of the trendline on both RSI indicators is expected with a strong bullish move in the next trading day.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
VONEThe stock has been encountering resistance near the descending trendline and there may be a possible inverted head and shoulder pattern forming. As this pattern formation is still uncertain, it's best to monitor the stock closely and consider setting the stop-loss below the recent higher low of 33 rupees to limit potential losses.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
CHOTWith the stock moving above the descending trendline and breaking out of the horizontal price channel at Rs. 17.70 with above-average volumes, there is a high possibility of gaining momentum towards the Fibonacci retracement level of 0.5 at Rs. 19.50 levels.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
CTC | Stage 1 BaseThe stock has formed a stage 1 base after a long stage 4 downtrend. If the stock manages to break above the ascending triangle pattern at the 674 level, it may move towards the 781 levels to potentially retest the long-term descending trendline.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
BFL | At the Edge of ResistanceBased on the formation of a bullish divergence on the Relative Strength Index (RSI) and the price moving along the edge of the descending trendline, the stock may be indicating a reversal to the upside.
To manage risk, it is best to wait for a breakout above the previous lower high level of Rs. 145 before taking a long position and if deciding to enter at these levels the stop-loss should go below Rs. 136 since failure to stay above these levels indicating a bearish continuation.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
SHOT | Filling the GapThe stock has broken out of the ascending triangle pattern at the 8.90 level to fill the exhaustion gap made on 12/12/2022. With the high volumes being traded, it is possible that it may fill the gap entirely up to the 10.40 levels.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
LOL SeeCounter everyone laughing up on and beaten down is now trying to find support around 380-400 zone. Prices are below moving average ribbon, being consolidated within a symmetrical triangle. If the given trendline resistance broken, counter might complete an inverse HNS pattern, and likely to break up!