JULPHAR IS ready to explodeThis stock is raising money and reaching a certain point and moving upwards. Given its low risk and high reward, it will be a very good option in the future.
JULPHAR trade ideas
Bullish continuing trend Based on the latest data from TradingView, Gulf Pharmaceutical Industries (JULPHAR) is currently trading at 1.33 AED. The stock has shown significant movement, with a 72.06% increase in the last month and a 72.50% increase year-to-date. Recently, JULPHAR experienced a strong bullish trend, breaking above its 200-day Exponential Moving Average (EMA) and surpassing the resistance level of 1.17 AED with robust bullish candles. This pattern indicates a continuing bullish trend.
Considering these factors and employing technical analysis augmented with machine learning techniques, my prediction for JULPHAR's future price is a continued upward trend in the short term. Specifically, I forecast that JULPHAR will reach approximately 1.45 AED in the near future.
JULPHAR | Bullish trend with anticipation of retracementObservation Summary:
Strong bullish Bias. On Jan 15, 2024, this stock got flagged as a volume leader. The price also broke above 200 EMA. Within 2 days, price broke the resistance of 1.17, with strong bullish candles. As per Hieken candles the trend is bullish continuation. Price is heading towards next resistance at 1.41 and 1.49. Price is also respecting the bullish trendline.
Anticipation:
~ Price has made a sudden increase but it is due for correction or retracement. It is aticipated that price might reach 1.49 but then retrace to the region of 1.29 till 1.31.
~ There is bearish divergence seen on 1H, 4H and 1D timeframes.
~ Also bearish divergence is noticed on volumes along with ABCD bearish reversal pattern on 1H.
~ All these signals hint towards price retracement and correction as people will book their profits.
~ But be concious for bullish trendline breakout as a confirmation for divergence.
~ If you have purchased at the time, EMA200 was broken then stay in the trade.
~ If you want to enter, then wait till price tracement goes to 1.29 till 1.31 level.
Trade Plan:
~ PLAN A: Long (@ Market)
~ EN: 1.11, QTY 200
~ SL: 1.05, TP: 1.49, RR: 6.3
~ PLAN B: BUY LIMIT Entry 1.29, QTY 200
~ SL: 1.17, TP2: 1.76, RR: 3.92
