Bullish Divergence on Weekly TF.
However, Immediate Resistance is
around 295 - 312.
Important Support levels can be around
265 - 270.
Once, 345 - 350 is crossed, it may start its
Bullish Momentum.
Alert! Low Volume Stock!
HINO trade ideas
HINO:- RISE IN THE MAKINGHINO has been sideways since November 2023. The candle formed in the last week shows the battle among the Bulls & Bears has been intensified. The odds are in favour of Bulls. The buying zone is from 292 to 320. Close above 320 shall trigger the breakout and the price may go beyound TP2.
SL in this case is 260.
Have a profitable trading.
PSX: HINO Mark the Cherry to pick it laterHINO, a security from Auto sector, defined the bottom a year ago since than it is trying to let itself loose to gravitate towords north. Its first attempt in the last quarter of year 2023 could not sustain yet it gave the bulls hope to muster their power again. Albeit it has not crossed the previous high but the weekly closings suggest that it may retrace to the Fib. levels of 0.5 & 0.618 i.e. Rs. 288, 275, respectively and these prices could be used as smart entry points. If price brake low the Stop Loss than we may get out of position.
For TP the resistance level has been used on the chart, which are Rs.348 & 399.99
Wishing you a profitable trading.
