GALMaking LH LL on Hourly Basis
Daily Trendline Support seems around 62.50
0.618 fib level support around 63
GAL trade ideas
GAL is BullishGAL is just getting warmed-up for a bullish rally, the current healthy correction was necessary for further upside movement. It all began with bullish RSI divergence on weekly time frame, and after giving a break out from the accumulation zone, bulls are in control, and currently there are no signs of exhaustion. AB = CD harmonics projection also indicates a potential 60% move from the current price. Targets are mentioned on the chart.
P.S Analysis is conducted on weekly time frame and hence could take 3-4 months to play out
GALPLAN 1
Buy1 : around 74
Buy2 : around 68
Stoploss 63
PLAN 2 : Trade on Breakout
Buy Above 80
Sell around 85 then 88
Stoploss 63 (closing basis)
GAl & FIBONACCI are friendsGAL is in an uptrend after pull back from 50% retracement from the impulse of 37.73 to 52.49 and currently trading above 38.2% that is 46.85 which acts as support. First and second resistance are at 52.49 and 56.50, respectively.
GAL (PSX) - RANGING WITH BEARISH DIVERGENCEThe stock, after printing HHs and HLs is now struck in a range. The RSI is making bearish divergence and indicating that the stock may come down towards its support levels, marked on chart
