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MEEZAN BANK LTD

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MEBL trade ideas

MEBL - PSX - Technical AnalysisMEBL is in sideways for almost seven months now. It is very much likely to continue in that fashion as interest rates cut is expected further. Therefore, buy on parallel channel's bottom and sell on its top is recommended. GANN support & Resistance fanes and Fib retracement tools have been used. Price has honoured both GANN and Fibonacci for this SCRIPT. Therefore, one can draw confluence while taking trades in this SCRIPT. RSI is at a mid-range emphasizing on continuation of small uptrend and then fall down. KVO is also a bit bullish (above Zero), but KVO indicator line has crossed its trigger line as well which may hint at price going up. Trade Values Scenario ONE: Buy-1 (Mkt): 246.64 TP: 271.75 Scenario TWO: Buy-2: 284 (If price breaks the resistance) TP-2: 327 Stop Loss: 207
PSX:MEBL
by Golden_Spur
MEBLMEBL : The price action is currently positioned above the 50-day Exponential Moving Average (EMA), exhibiting a formation of small candles at the support level. This pattern suggests that the asset is maintaining its support zone. The Moving Average Convergence Divergence (MACD) indicator is situated above the neutral line, which implies potential for upward momentum. It is advisable to consider initiating a long position around the price level of 239, with a stop-loss set at 227 and a potential target of 263.
PSX:MEBLLong
by mbaberhanif
MEBL Technical Analysis: Breakout and Reversal Opportunities.Meezan Bank Ltd (MEBL) Technical Analysis Commentary Current Price: 237.50 PKR Resistance Levels: - Primary Resistance: 260 PKR - Secondary Resistance: 280 PKR - Tertiary Resistance: 300 PKR Support Levels: - Primary Support: 190 PKR - Intermediate Support: 210 PKR Trend Analysis: Meezan Bank Ltd (MEBL) is currently exhibiting a strong uptrend, having shown significant price appreciation over recent months. The stock is consolidating in the range of 230 PKR to 250 PKR, suggesting a potential setup for a breakout. Trade Strategy: 1. Breakout Trade: - Entry: 261 PKR - TP1: 280 PKR (7.28%) - TP2: 300 PKR (14.94%) - SL: 250 PKR (4.21%) - RR Ratio: 1.73 (TP1), 3.55 (TP2) 2. Reversal Trade: - Entry: 210 PKR - TP1: 230 PKR (9.52%) - TP2: 250 PKR (19.05%) - SL: 200 PKR (4.76%) - RR Ratio: 2 (TP1), 4 (TP2) Key Trade Confirmation Points: - Volume: Look for increased volume on breakout above 261 PKR or on dip buying at 210 PKR. - Candlestick Patterns: Bullish reversal patterns near support levels or strong bullish candles on breakout levels. - Market Sentiment: Monitor overall market trends and any news specific to the banking sector or MEBL. Fundamental Catalyst: - Upcoming Earnings: MEBL is set to announce its earnings on 8th August 2024. Positive earnings results could act as a catalyst for a breakout, while any negative surprises may test support levels. Confluences: - Sector Performance: The banking sector’s relative strength supports a bullish outlook. - Dividend Announcements: Positive dividend announcements can boost investor confidence and drive the stock higher. - Technical Indicators: Confirming signals from RSI, MACD, or moving averages can enhance trading decisions. In conclusion, MEBL presents a balanced opportunity for both breakout and reversal strategies, with strategic entry and exit points providing favorable risk-reward ratios. Monitoring key technical levels and upcoming earnings will be crucial for successful trades.
PSX:MEBLLong
by tell_Arshad
1
MEBL- 4h - LONG Trade CallOver all Price chart is in Bullish Trend. Therefore, in long run price will go up. There is a big RSI divergence indicating a Bearish reversal which is playing right now. Fib retracement to 0.618 level (PKR 236.72) is expected to be tested. One can take Entry at that point. However, it can even slip to Fib 0.786 level (PKR 229.39). Finally, in case The Reversal is fully played by the Divergence, then price must break below PKR 220. If that happens then price will slip down to PKR 200 or below as well. On the other hand, if one looks at the Volume indicator then LOW volume is consistently seen, which implies that it is time to BUY. PSX index is on a Bull run as well, which also means that full reversal is not likely to happen. It is just Institutional Buyers are taking profit at the moment. My Trade values:- LONG Trade Call (Split Buying in 2 trades) Entry 1 (Pending Order) Buy Stop: 229.00 Entry 2 (Pending Order) Buy Stop: 236.72 Stop Loss: 30 pips TP1: 262 TP2: 280 Note 1:- Once TP1 is reached then move Stop Loss of second trade to TP1 price to safeguard the profits. Note 2: Before TP2 is reached, and if uptrend is still going on remove TP2, and then use Trailing Stop of 20 PIPS.
PSX:MEBLLong
by Golden_Spur
Week 9 strategy 1: AB=CD MEBLMEBL has been in a strong uptrend since June 22, 2023, when it was priced at Rs. 81.84. This bullish trend has continued, and as of February 2024, the stock has begun to form an AB=CD pattern, which is currently incomplete. Based on technical analysis, the completion of this pattern is projected around Rs. 273. Trade Recommendation: Action: Instant Buy Stop Loss: Rs. 206 Target Price: Rs. 273 Rationale: The ongoing uptrend and the formation of the AB=CD pattern suggest that the stock has significant upward momentum. The target price of Rs. 273 is based on the expected completion of the AB=CD pattern. However, traders should be aware that upon reaching this level, the stock may encounter a potential reversal zone. Trading Strategy: Enter the trade at the current price around Rs. 241. Set a stop loss at Rs. 206 to manage downside risk. Aim for the target price of Rs. 273, where the pattern completion is anticipated.
PSX:MEBLLong
by nilambano3