NETSOL ANALYSIS 3.0
🚀 Trade Alert: NETSOL Bullish ABCD Pattern & Bullish Flag 🚀
We have identified a bullish setup in NETSOL, characterized by the following:
ABCD Pattern or Bullish Flag: Indicating a continuation of the bullish trend.
No Divergence on RSI: Confirming the continuation of the trend.
Good Support Area: Currently trading at a good support line.
Retracement: Greater than 0.61 Fibonacci level.
Buying Range:
Buy: At 129-126
Target Prices (TP):
TP 1: 142.52 📈
TP 2: 155.80 🥇
Stop Loss (SL):
SL: 114.53 to manage risk
Trade Summary:
Buy: At 129-126
TP 1: 142.52
TP 2: 155.80
SL: 114.53
Trade Type: Long Swing 🎢
Good Luck! 🍀
Stay informed and trade smart! 📊
NETSOL trade ideas
Bearish Divergences are there on Weekly TF.Bearish Divergences are there on Weekly TF.
125 - 126 is Still an Important Level that
should be Sustained.
Otherwise, 119 - 120 may give a Bounce Upside.
On the flip side, 135 is an Important Resistance.
However, if 142 is Crossed & Sustained, we may
witness 150 then 158 - 159.
Netsol-A buy trade opportunity based on fib retracementViewing the scrip initially doesn't give us a clear trend. However with the clear formation of HH and HL in the previous candles we can move forward with the 0.38 fib retracement with a nice opportunity for an upside break and a TP of 135 on the 1D time frame.
NETSOL(ANALYSIS).NETSOL is exhibiting strong bullish momentum, aiming for new highs after surpassing 142. While 137.57 previously posed a robust resistance, it's steadily diminishing. 🚀 The increasing volumes, coupled with bullish indicators like RSI, Stochastic, and expanding Bollinger Bands, support a long position strategy.
Consider entering a long position once NETSOL crosses 138+ and look to exit a portion of your position around 141-142. This approach allows for profit-taking while retaining exposure. 📈 After surpassing 142, anticipate a potential move towards 160, and be prepared to buy on dips as opportunities arise. 🛒
NETSOLThe price action validates a breakout and subsequent retest subsequent to the formation of a cup and handle pattern. Currently positioned at the confluence of a support level around 124, if this support level endures, a pullback is anticipated. Notably, a resistance level rests at approximately 144, and only upon its breach can further bullish momentum be expected.
NETSOLNETSOL must surpass the 144 resistance level to effectively conclude its bullish momentum, as delineated by the cup and handle pattern. Notably, a significant supply zone is situated within the range of 182 to 195. To mitigate potential losses, it is prudent to implement a stop loss strategy below the 125 mark, which represents the neckline zone of the pattern.
PSX: NETSOL TO SHINE NOWNETSOL is a technology company that has been gaining the momentum for t Bull run.
It started accumulation at the start of September the volume in recent days has been good causing the average daily volume to rise. At every swing high the price has been inching up and now the price is being rejected at another swing high which is expected to get support at the specified support zone, fib 0.38 & 0.5. it is assumed under these circumstances that this time the price shall make a big move towards north.
For the trading purpose the TP-1 has been defined. For a medium term investment the TP-2 & TP-3 has also been identified
Profitable trading is Happy Trading
NETSOL - initial target of 10% upside
After witnessing a rapid recovery in IT stocks worldwide, especially on the NASDAQ, it seems that a similar trend may be expected in Pakistan's IT sector in the near future. The IT sector is poised to be a significant beneficiary of the current economic environment, with the government likely to provide further tax rebates. Given this outlook, I hold a bullish stance on the IT sector and have identified NETSOL and TRG as top picks.
Currently, NETSOL is trading at $80. I have set an initial target of 10% upside, and once this target is achieved, we can review and discuss the next set of targets.
Please note that the above analysis represents my personal opinion as a financial analyst. It is important to conduct further research and analysis before making any investment decisions.