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ISL | Parallel ChannelISL is currently trading within a parallel channel, as illustrated on the accompanying chart. The price has demonstrated a tendency to reverse upon testing either side of the channel. At present, the price is approaching the lower boundary of the channel, approximately at 74, which also aligns with the 200-day Exponential Moving Average (EMA). Several indicators suggest that a bullish reversal may be imminent, presenting a significant buying opportunity. The initial target for this trade is set at 70.70, where previous rejection has been observed. Should the price break and sustain above this level, the next target is approximately 89.80. Furthermore, the upper boundary of the channel is around 95, which represents a potential swing trade setup requiring additional confirmation to achieve this target. A stop loss should be placed at 66, marking a break below the channel. Please manage your trade accordingly.
PSX:ISLLong
by mbaberhanif
1
PTL - Inverse Head & Shoulders in Accumulation TG: 68.00 - 92.00PTL - Inverse Head & Shoulders in Accumulation Zone PTL is forming an inverse Head & Shoulders pattern within an accumulation zone, currently at the right shoulder, accompanied by a Three Outside Up candlestick formation. This suggests a potential upward move in the days ahead. A successful break above the initial resistance at 46.60 will lead to a test of the neckline breakout point at 50.00 - 52.00 levels. A breakout above these levels will confirm the resumption of the bullish trend, targeting the 50% level at 68.00, followed by 92.00 in the short to medium term. Indicators also support this bullish bias. Consider buying and accumulating within the 37.00 - 40.00 range, with a stop-loss defined below 36.00.
PSX:PTLLong
by tradeflowadvisors
1