PNSC LONG TRADEPNSC was in long accumulation from Dec 2023 to Oct 2024, then gave breakout and made a high of 519. Since then it has been in downward corrective channel.
Now it has given long awaited reversal followed by breakout from its downtrend channel which has been validated from volume distributions & creation of spring on axis line.
🚨 TECHNICAL BUY CALL – PNSC 🚨
🎯 BUY ZONE: Buy in two parts
BUY1 @CP 313
BUY2 290-300
📈 TP 1: Rs.350
📈 TP 2: Rs. 422
📈 TP 3: Rs. 518
🛑 STOP LOSS: Rs. 233
📊 RISK-REWARD: High Conviction | 1:4+
PNSC trade ideas
PNSC - PSX - Technical Analysis - Buy CallOn Daily TF, Price has seen a steep bull run of 4 days. Then retracement of 5 days and now price is in distribution phase for the last 10 days. This is a good sign for another bull run.
Hidden Bullish Divergence on RSI is also present which also confluence a sharp increase in price.
KVO is just below zero (in bear run) but turning upwards. Blue line (Oscillator) is about to cross green line (trigger) as well. Therefore, one can enter in trade immediately at Market price or technically correct value at 291.50.
Therefore, Buy trade should be :-
Entry (Buy) : 291.50
Stop Loss: 269.50
TP1: 320
TP2: 383