Short EfertBreakout of trend line and retest is expected and then I am putting a target of 50 to 60% retracement which will give a return of 25%.
OGDC | End of Rising Wedge Pattern?Rising Wedge pattern considered as bearish pattern, which is observed in OGDC technical chart. At present this bearish momentum weakening as the price is facing support zone around 118-119. If the selling pressure resumes and the buyer gets active then a possible pull back is expected towards the resistance level of 132.
ENGRO Bullish Bat Harmonics Pattern with DivergenceENGRO Bullish Bat Harmonics Pattern with Divergence
NCPLNCPL has pulled back after making support around the 28.20 - 28.30 range which acts as resistance before. This shows a sigh of bullish momentum towards the breakout zone at 30.90. A break above this level could trigger a rally towards 33.40. Use stop loss below 26.
MLCF/PSXA bullish flag is a technical analysis pattern that indicates the continuation of an existing uptrend in a financial asset. It is named for its resemblance to a flag on a pole, where the "pole" is a sharp price increase and the "flag" is a period of consolidation or slight retracement that follows.
Characteristics of a Bullish Flag:
Flagpole:
A significant and rapid price increase leading up to the flag.
Indicates strong bullish momentum.
Flag:
A period of consolidation or slight downward retracement.
Typically takes the shape of a rectangle or parallelogram that slopes against the prevailing trend (downwards in this case).
Volume tends to decrease during the formation of the flag.
Breakout:
Occurs when the price breaks out above the upper boundary of the flag.
Confirmation of the pattern and often accompanied by a spike in volume.
Interpretation:
Continuation Pattern: The bullish flag suggests that after a brief consolidation, the price is likely to continue moving in the direction of the previous trend (upward).
Price Target: The potential price target after the breakout can be estimated by adding the length of the flagpole to the breakout point.
NCL | Flag PatternNishat (Chunian) Limited is forming flag pattern which is the sign of bullish momentum. Currently price has shown break out from its flag and according to pattern its final approach lies around 35. The stock can be accumulate around 29.50 with the stop loss of 28 (5% risk) and initial target 32.24 which is previous top, where selling is expected. Upon breaching said resistance level, second target lies around 33.24 and final target at 35 which is 18% gain.
CSAP | Flap PatternCrescent steel displays a promising bullish reversal pattern characterized by the formation of bullish flag pattern. Our plan entails accumulating the stock within the designated buy area around 60, while setting stop loss orders below the bottom of support around 50.30. To guide our trading decisions, we've delineated three distinct targets: an immediate target around 70 and secondary target for exiting the trade will be around 80 depending upon break out and the final target based upon completion of flag pattern will be around 97.
SAZEW - Bearish Divergence in play on Daily Time FrameBearish divergence is in play on the daily time frame, and the price is expected to retrace up to 650 before moving upward.
Let's see how it plays out in the next few days.
PSX: HCAR starting the new phase of journey.HCAR, an auto manufacturer listed at PSX registered some hefty gains and subsequently printed a bullish flag. It is suggested we may initiate a long position when the price close above the channel i.e. 317. As per harmonic pattern the TP shall be 417.
Wishing you Profitable Trading
AIRLINK ANALYSIS 2.0AIRLINK is in a bullish trend with no rsi divergence + forms a bullish harmonic patterns indicating big targets till 94.
buy 1 at support zone and buy 2 after breakout. SL marked and targets marked
NETSOL ANALYSIS 2.0NETSOL is in bullish trend and no divergence on the rsi indicating bullish trend conitnuation.
buy at support line 127 and SL at 122.50 and tp 1 at 134 tp 2 140.
GHNI ANALYSIS 2.0GHNI formed a bearish flag with bearish divergence + a double top reversal pattern too.
neckline , HL already broken indicating downtrend of ghni .
TP'S , SL MARKED .
INSTANT SELL
HCAR ANALYSIS 2.0HCAR forms a bearish reversal pattern along with the bearish divergence + a bearish flag is formed too.
Our Neckline , HL is broken and short sellers can instant sell.
target and Stoploss marked.
SYSWe can attempt to buy SYS from specified level if it gives breakout of LH , also bullish divergence occur indicate that it move upward.
SL , TP mention in chart.
ASTLASTL following a cup pattern with spinning bottom candle observed on daily time frame. If the next candle closes above 26.20 then a possible upward price action can be seen. The initial target lies at 27.50 and the secondary target at 28.50 with the stop loss level of 24.50.
NRL PSX- LONG Bearish Reversal Butterfly Harmonic Pattern Bearish Reversal Butterfly Pattern has been drawn.
If the pattern is respected by Price chart, then we should expect to see a small bearish run followed by a big bullish run up till Rs 480 which is potential Reversal Zone.
So it is better to wait till reversal to Bullish is confirmed and then take entry. Otherwise, place Buy Stop Order at Support 3 Level to catch the trend in its initial stage at around 8th July, 2024.
Then it will run till 30 September, 2024.
GAL ANALYSIS 2.0"It appears that GAL has formed a reversal pattern, a double top, accompanied by RSI bearish divergence. 📉 Additionally, the neckline has been broken, and a bearish flag is forming. To capitalize on this potential downward movement, I recommend placing a sell stop order. Set your stop loss (SL) at the recent higher high (HH) and take profit (TP) levels according to your risk-reward ratio. This strategy combines technical analysis and risk management for a potentially profitable trade. Best of luck with your trading! 🍀📉"forming to sell
NRL on Daily time FrameOn daily time frame, double bottom is being experienced but there is no divergence on RSI.
Therefore, price action may either reverse to go upwards or may continue downward trend.
Buy after confirmation of reversal and confirm closing of Green candle.
ENGRO corporation buy idea. ENGRO corporation weekly time frame.
I believe engro is at perfect price to buy for long term hold, i am expecting 30-50 PKR move each share within next couple of weeks to a month.
a Beautiful Cup & Handle Pattern on Weekly TF.
Possibility of Re-Testing its Previous High around 148 - 150.
On the flip side, 203 & then 220 is a Strong Resistance level.
PSO:PSX Buy CallPSO printed a Bullish Divergence with a Falling wedge pattern suggesting a Bullish shift in momentum.
Market entry is suggested with Stop Loss on previous Lower Low. Take profit levels are recommended on 1:2 Risk Reward Ratio.
Happy Trading!
GALGAL has shown a break out on 4 hour time frame. Short term position can be consider around 193.50 for the target of 202.80. If it breaks previous resistance of 202.80 then more upward can be expected.
PPL Analysis 2.0🚨 Trade Alert: PPL Bearish Harmonic & Flag Pattern 🚨
We have identified a bearish setup in PPL, marked by the following patterns:
Bearish Harmonic Pattern 🐻
Bearish Flag Pattern 🚩
Technical Indicators:
No divergence is present, confirming the bearish outlook. Additionally, PPL is printing Lower Highs (LH) and Lower Lows (LL).
Entry Point:
Place a sell stop at 117.00.
Target Price (TP):
TP: 112.00 📉
Stop Loss (SL):
Place your stop loss at 121.88 to manage risk.
Trade Summary:
Sell Stop: At 117.00
TP: 112.00
SL: 121.88
Trade Type: Short Swing 📉
Good Luck! 🍀
Stay informed and trade smart! 📊
