MARI trade ideas
Mari is heading to 900 againMari did not drop more to below its support of 594. it dropped from its support of 666 and bounce back again and broken resistance of 666 and touched 715. It is likely to cross again 755 and heading to 900 again. Use stop loss below 666
Note: This is not a buy/sell call. Trade at your own
will.
MARI - PSX - Technical AnalysisOn daily TF, MARI has defined a Higher High and has came down to define a Higher Low.
Currently almost 52% Fib retracement (Rs 655) has done. Price may even further drop to Fib 61.80% (Rs 610). Now, this is the golden pocket (50~61.80%) retracement zone, where most financial institutions prefer to enter.
Trade Values
Buy-1 (CMP) : 660
BUY-2: 635
SL: 550
TP-1: 895 (Just before previous ATH)
TP-2: 1105
MARI - Technical AnalysisMARI is in bull run as ever. RSI and KVO also suggesting strong buying.
Fundamentally very strong and now showing its true potential. New entrants may buy now or wait for the dip expected shortly but that would be very brief.
Trade Values
Buy : 558
SL: 429
TP-1: 604
TP-2: 731
TP-3: 797
MARI potential Buy setupReasons for bullish bias:
- Fundamentally a very strong company
- Price respecting upward trendline and is at 0.382 Fib level
- Overall a bullish trend
- Divergence also getting synched
Here are the recommended trading levels:
Buy 1: 402 (CMP is also good)
Buy 2: 384.19
Stop Loss Level: Closing below 355.8
Take Profit Level 1: 482.91
Take Profit Level 2: Open
MARI | MonthlyMARI (Monthly) : The price action established a bullish trend from 1,515 in Oct' 2023 and makes a high of 2,849 in May' 2024. Currently it is showing rejection from its top. At present resistance lies at 2,849, upon breaching next resistance lies around 3,211. On the flip side, 38.2% retracement lies at 2,339 and 50% retracement at 2,182 these level are consider as support levels.
Week 2 Candle Stick Pattern Idea 1: MARI MARI offers traders compelling opportunities following distinct candlestick patterns, indicating potential bullish movements in the near term.
Trade Plan:
Entry Point 1:
Candlestick Pattern: Bullish Hammer
Entry Point: 1,588.7, following the formation of the bullish hammer candlestick pattern. This entry signifies a bullish reversal from the previous downward trend.
Stop Loss: Positioned at 1,540, serving as a protective measure against adverse price movements.
Take Profit (TP1): Targeted at 2,500, reflecting the initial profit-taking level with the potential for significant upside momentum.
Entry Point 2:
Candlestick Pattern: Tweezer Bottom
Entry Point: Identified at 2,202, subsequent to the formation of the tweezer bottom candlestick pattern. This entry suggests a confirmation of bullish sentiment, indicating a potential reversal from the recent downtrend.
Take Profit (TP2): 2,622, representing a higher profit target in anticipation of extended bullish movement following the tweezer bottom formation.
Week 1 Dow Theory Idea 4: MARI Week 1 Dow Theory Idea 4: MARI (Bullish/Long)
MARI continues to display bullish momentum, offering two distinct trade plans for investors to consider. Plan 1 has been executed, while Plan 2 presents an alternative entry opportunity for traders seeking to capitalize on the upward trend.
Plan 1:
Entry Point: Established at 1,717, this entry marks the initiation of a long position in alignment with the bullish sentiment observed in the chart.
Stop Loss: Positioned at 1,676, the stop loss serves to mitigate potential losses in the event of an adverse market reversal, preserving capital and managing risk effectively.
Take Profit (TP1): Targeted at 2,500, TP1 represents the initial profit-taking level, reflecting a significant upside potential in the bullish trend.
Plan 2:
Entry Point 2: Identified at 2,227, this entry offers an alternative opportunity for traders to enter the market, potentially capturing further gains as the bullish momentum continues.
Take Profit (TP2): Set at 2,622, TP2 represents a higher profit target, reflecting the anticipation of extended bullish movement in the price of MARI.
MARI - Long Based on the chart, it seems a bullish cup and handle trend is forming. The breakout level is at the blue line. If the stock happens to break that, it will be in a bullish trend.
Fundamentally, MARI is a good stock and current news are in favor as well. This is a long term holding stock.
August 2023 Market Outlook: Potential Support and Rebound Based on technical chart analysis, it appears that most stocks in the Kse30 index have reached monthly support levels. As we approach the end of August 2023, instead of expecting a significant fall, there's potential for support, a rebound, or a tight spread. Feel free to watch the video and analyze it for yourself. #TechnicalAnalysis #StockMarketInsights