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PACE | Bullish Continuation ExpectedThe stock is presently trading above its 200-day Exponential Moving Average (EMA), adhering to a parallel channel that signifies a bullish trend. On the daily timeframe, there is a clear formation of Higher Highs (HHs) and Higher Lows (HLs). The price has recently experienced a pullback from the support level of the parallel channel, currently hovering above this support. A retracement toward the initial resistance level of 4.45 is anticipated. Should trading volume increase and the price break above and sustain above this resistance level, it is plausible that the price could test the upper boundary of the parallel channel, approximately 5.50. However, this bullish outlook would be invalidated if the channel breaks downward. To manage risk effectively, it is advisable to set a stop-loss order at 2.50.
PSX:PACELong
by mbaberhanif
FLYNG - SIGNIFICANT FALL IN PRICE EXPECTED (TODAY & ONWARDS) A two-day Volume comparison Analysis (03-09-24 & 04-09-24) Today the Total Vol stood at 35.345M as compared to Yesterday's Total Vol which was 17.409M, an absolute increase of 17.936M and a %age increase of 103.03%. In contrast to that, Yesterday's Delta Volume (closing figure), which is actually the difference of Buying MINUS Selling Volume was 14.237M as compared to Today's Delta Volume close figure of 4.900M. Today's Delta Volume made a HIGH of 11.030M and then came down to and closed at 4.900M, a reduction of 6.130M i.e. a %age decrease of approx. 55% in the Buyers, today. And when we compare todays Delta Vol figure with that of yesterday there is a significant decrease / drop in the Net Buyer-Sellers volume figure of around 9.144M (a %age decrease of 65&). From this we can deduce that the NET Buyers-Sellers Volume is dropping at an increasing pace and today the selling volumes have eventually erupted in the Scrip. It is worth noting that Indicators are still optimistic. Daily RSI value is 79.96 and the weekly RSI value is 83.74. Daily ADX value 46.86 +DI value 47.33 -DI value 11.20 quite BELOW the +DI value. Relevant Snaps attached for ready reference.
PSX:FLYNG
by DawoodKK
BCL | Is correction over?BCL is currently trading around its 200-day SMA and shows promising signs of a trend reversal. The MACD is below the zero line but nearing a bullish crossover, with the bearish histogram fading and potentially turning positive. Additionally, the stock is hovering above the 0.618 Fibonacci retracement level from Rs. 39.01 to Rs. 172.20, suggesting a potential recovery towards the 0.5 Fibonacci level at Rs. 105.87 and the 0.382 level at Rs. 121.64 (which aligns with the 50-day SMA). For a long position, consider entering as the recovery seems likely, with a stop loss set just below the previous low at Rs. 80.
PSX:BCLLong
by mbaberhanif
2
CTM | Inverted Head and Shoulders PatternTechnical Analysis of CTM: Inverted Head and Shoulders Pattern Pattern Overview: Pattern Type: Inverted Head and Shoulders Neckline: 3.80 Head Low: 1.10 Current Price: 4.40 Analysis: CTM is forming a classic inverted head and shoulders pattern, a bullish reversal pattern that suggests a potential upward trend. The neckline, which is a key level of resistance, has been broken, indicating the pattern’s completion and a likely move upward. Target Price: Calculation: The target for an inverted head and shoulders pattern is calculated by adding the distance from the head to the neckline to the breakout point. Here, the distance from the head low (1.10) to the neckline (3.80) is 2.70. Adding this to the neckline gives a target price of approximately 6.50. Trade Recommendation: Long Position: Considering the breakout above the neckline and the bullish implications of the pattern, taking a long position is advised. Entry Price: Enter around the current price of 4.40. Stop Loss: Level: Set a stop loss just below the neckline at 3.50 to protect against adverse price movements and ensure risk management. If you like my idea do like (boost) this idea and share with your friends. Thank you!
PSX:CTMLong
by mbaberhanif