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ENGRO POLYMER & CHEMICALS LTDENGRO POLYMER & CHEMICALS LTDENGRO POLYMER & CHEMICALS LTD

ENGRO POLYMER & CHEMICALS LTD

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EPCL trade ideas

EPCL: Early Signs of Spring.After posting the intraday high of 93.48 on 26th April 2022 the security has never been able to come out of selling pressure. On 14th October 2024 the price of 30.01 was printed as the lowest of recent times. From this point onward the Bulls have been trying to get a foothold and some early signs of there success have been noticed. For those who like to do bottom fishing may initate a long position as has been indicated on the chart, wheras who want to play even safer may go long when the price is above TP1. For those who initiate long after TP1 the TP2 shall be 50. Pl do share your opinion as we learn together.
PSX:EPCLLong
by usufgul
EPCL🚀 Stock Alert: EPCL 📈 Investment View: Technically Bullish 📈 🔍 Quick Info: 📈 Entry Level: 43.30 🎯 Target Level: 45.50 ⚠ Stop Loss: 42.20 ⏳ Nature of Trade: Short Term (Scalping) 📉 Risk Level: Medium ☪ Shariah Compliant: YES 💰 Dividend Paying: YES 📰 Technical View: The current price movement is evaluating a support level, coinciding with the observation of a Doji candlestick pattern, traditionally interpreted as indicative of a potential reversal in market direction. Furthermore, the Relative Strength Index indicates an oversold condition. Consequently, a strategic assessment suggests contemplating a long position entry point at the resistance level of 45.50.
PSX:EPCLLong
by mbaberhanif
2
PSX: EPCL OPPORTUNITY FOR SMART ENTRY.EPCL is a chemical company providing raw materials to many construction related indutries. It has been in downtrend for very long. Recently it hit the low of 38.5 which is the lowest low so far. From this point it reversed and posted a high of 47.95, which is a significant gain. Than comes retracement which is a natural eventuality. If we apply fib. retracement to this gain we realize that price, almost, retraced to the level of 0.38 which is a healthy sign and to day it has printed a green candle which may be a clue to reversal. the only caution to this scenario is the volume, which is lower than the 20sma. Here it will be advisable to keep close monitoring of the security and we may use fib. level of 0.5 as support levels and conformation with high volume can trigger a buy call. At 49.25 we have a resistance on the chart, when crossed shall lead to TP-2.
PSX:EPCLLong
by usufgul