Potential reversal zoneLUCK will be at a cross point at 702 levels, where we should look out for potential reversal pattern. This might be an elliot correction wave leading to long term bearish pattern and earnings have decreased as well which could support it. On the other hand, we can see bullish pattern, if market decide to get support from 606.32 levels and decreasing oil prices can support this move.
Lets see how it turns out!
LUCK trade ideas
Lucky Cement on PSX is rangeboundLuck Cement (LUCK) is observed to be rangebound between 577.94(S1) and 589.19(R1) on !H timeframe. However, in anticipation of the previous short-term uptrend, a Buy Stop has been placed above R2 on 596.48 with SL below R1 588.04. TP1 and TP2 have been placed propotionately.