OCTOPUS - PSX - Technical AnalysisOn daily TF, OCTOPUS is in a sideways channel since Nov 2024. Although it has broken out of downwards parallel channel but has actually not gotten into bull run.
Therefore, one can initiate trade in sideways channel as well as once it breaks out of the sideways channel.
KVO is in sideways and just below zero level, but Klinger line is above the trigger line. Which may move up. Similarly, RSI is also around 50, therefore, there is enough space to move up.
Trade Values
Buy-1: 68.10
TP-1: 77.34
Buy-2: 80.52
TP-2: 100
SL: 62.07
OCTOPUS trade ideas
Octopus is attractive to Buy at these levels Offering 117% GainsThe stock after breaking out its accumulation zone enters the bullish territory and printed a Cup and Handle formation on weekly chart. The stock has successfully broke out the Cup and Handle but went into consolidation after posting bearish divergence. Currently, retraced till 71.8% as per FIB levels and being accumulated for another bullish ride where it can double the investment within next 6 months.
One can start accumulate atleast 25% allocation at these levels with SL at 55. Confirmation to the Target price will be given once weekly closing above 100 is given by the stock where it will validate the journey towards final target price of 165 which is the projection of Cup and Handle formation.
OCTOPUS | Bearish Divergence**OCTOPUS** - Sell Recommendation
Technical Analysis: The current price action is displaying a bearish divergence pattern, suggesting an imminent sell-off or profit-taking phase. The Relative Strength Index (RSI) has reached overbought territory and is currently signaling a potential downside movement. Additionally, the Moving Average Convergence Divergence (MACD) has indicated a crossover, further indicating exhaustion among buyers and the potential for bearish momentum to emerge.
OCTOPUS ANALYSIS 1.0
๐ Trade Alert: OCTOPUS Bullish Flag Pattern ๐
We have identified a bullish setup in OCTOPUS, highlighted by the following pattern:
Bullish Flag Pattern ๐ฉ
Technical Indicators:
Previous High: Broken, confirming bullish momentum
Bearish Divergence: Previously present but neutralized after a significant drop
Current Divergence: Formed after the flag formation, indicating the continuation of the bullish trend
Entry Point:
Buy: At 88.55
Target Prices (TP):
TP 1: 96.00 ๐
TP 2: 104.00 ๐ฅ
Stop Loss (SL):
SL: 81.00 to manage risk
Trade Summary:
Buy: At 88.55
TP 1: 96.00
TP 2: 104.00
SL: 81.00
Trade Type: Long Swing ๐ข
Good Luck! ๐
Stay informed and trade smart! ๐