CLOV - PSX - Technical AnalysisOn Daily TF, trend is following Harmonic Bearish Reversal Crab Pattern. Point D defines the TP here which is a potential reversal zone.
For education purpose, this is Crab not Butterfly because Butterfly Pattern has B point at much higher level at 0.786 with Point D at much lower level of 1.27 level.
RSI is around 80 and seeing the resistance zone (53.93~54.63) it is likely to retrace a bit before going up and breaking the resistance.
Klinger is also suggesting a very strong bull run.
Trade Values
Buy 1; 49~50 (On retrace)
Buy 2: 55 (after breaking resistance zone)
TP: 59
