DFML has submitted breakoutDFML has submitted break out on daily and weekly chart,price is printing higher highs and lower lows good oportinuity for buying at current levels .
DFML trade ideas
DFML exposing 40% gains The stock has touched the HH of 54.6 previously and therafter retraced 0.718 FIV level, now broke out the falling wedge pattern.
Small size entry can be taken here for TP1 of 59, position size can be increased once it crosses 48.85, Breakout of previous HH @ 54.6 will confirm the bullish ride towards arc formation projection of 91.85 However, final target as per our trade plan is
DFML 28 nov 2024 zonesBullish zone 39.3
Bearish Zone 38.7
Note: This is not a buy/sell call. Use stop loss whenever trade.
DFML Dragon Pattern BreakoutThis chart for Dewan Farooque Motors Ltd (DFML) displays a "Dragon Pattern," a bullish reversal signal. The pattern is characterized by two distinct lows (labeled as Foot #1 and Foot #2), followed by a breakout above the resistance line (marked as "Entry"). The head and hump within the pattern indicate consolidation before the breakout. The take profit targets are clearly outlined at 51 PKR (Take Profit 1) and 53.80 PKR (Take Profit 2), with the current price at 47.40 PKR. A stop-loss is set at 44.20 PKR, indicating a risk-reward ratio of 2. The chart suggests a favorable potential upside, supported by increased volume during the breakout.
DFML for LongDFML can have a swing trade position for LONG trade.
Levels and targets are defined clearly.
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DFMLStock Summary: DFML closed at 46.13 and currently holding above the 50-day SMA on the daily chart. The stock tested downward trendline two sessions back and successfully closed above it. DFML is currently trading 41.50% higher then its 200-day moving average, indicating an upward trend.
Recommendation: Initiate buying positions on weakness or when it approaches the support zone and set stop losses below PkR 44.44 to manage risk effectively.
DFML | Up TrendDFML is currently exhibiting a bullish trend as observed on a weekly time frame. Should it sustain its position above 36, there is a potential for further upward movement, with potential resistance levels at 42 and subsequently 49.60.
DFML*DFML* is in an uptrend after pull back from trend line & 50% retracement & gives closing above support level at 15.50. Previous resistance lies at 16.41
Entry: 15.50
Target: 17
Stop Level: 14.75
DFML - LONGDFML is currently in a bullish trend
and there is no divergence
chance of reversal from this point is very low
long entry recommended
on the current price of 39.73
as it already breaks the previous high,
SL should be 33.98 and tp 43.96
DFML๐ Stock Alert: DFML
๐ Investment View: Technically Bullish ๐
๐ Quick Info:
๐ Entry Range: 20.50-20.70
๐ฏ First Targets : 22
๐ฏ Second Targets : 23
โ Stop Loss: 20
โณ Nature of Trade: Scalping
๐ Risk Level: Medium
โช Shariah Compliant: NO
๐ฐ Dividendย Paying:ย NO
๐ฐ Technical View: DFML has demonstrated a breakout above the 20 level, affirming strong bullish momentum in the recent trading session, culminating with a closing price of 20.76. This bullish sentiment is further substantiated by the RSI indicator. Accordingly, the initial upside target for DFML is established at 22, with a subsequent target at 23. Conversely, a notable support level is identified at 20. In the event of a breach and subsequent closure below this support level, it is advisable to employ a stop-loss strategy.
Bullish on All Time Frames
However, Immediate Resistance around 24 - 25
If 15.50 is Sustained on Monthly Basis, we
may witness further Upside
Good Support Levels are around 20.60; 18.50
then 15.50
Making HH HL on HourlyBuy @ CMP or around 15
with a Stoploss of 14.50 (Closing basis)
Sell around 17 - 17.30
