PPL can be bearish?PPL currently testing 200 EMA in hourly time frame and closes above at 72.90. If breaks 71.50 it can test 69 level. Which acts as support. However, 74.50 acts as resistance level.
PPL trade ideas
PPLPPL is currently testing its resistance at 74.50 and is poised to potentially breach it, targeting the second resistance level at 77.34. Traders may consider placing a stop loss near the support level of 71, with a secondary support level at 69.
PPL:PSX to resume uptrendOnly Daily timeframe, formation of Bullish Harami at 38.2% Fib shows end of corrective move and resumption of uptrend of PPL. A Bullish Flag (Continuation Pattern) has also been formed highlighting confluence indicating an uptrend.
Trade plan including Entry, SL, TP1 and TP2 have been marked on chart.
Bullish Trend in PPL - Potential Trading Opportunity!Hello Traders! Today, I have an exciting opportunity to discuss the bullish trend in Pakistan Petroleum Limited (PPL) stock. After careful analysis on the 1-hour chart, I have identified potential entry, stop loss, and take profit levels for this trade. Let's dive into the details.
Symbol: PPL
Entry Price: 68.06
Stop Loss: 67.06
Take Profit: 69.06
Technical Analysis:
On the 1-hour chart, Pakistan Petroleum Limited (PPL) has been displaying a strong bullish trend. The stock has recently experienced a minor correction, providing an attractive entry point for traders looking to capitalize on the potential upward movement.
According to the Dow Theory, the current price action indicates an overall bullish sentiment in PPL. The stock has been forming higher highs and higher lows, signifying the presence of buyers and a potential continuation of the upward trend.
Trade Plan:
Entry Price: We recommend entering the trade at 68.06, which aligns with the current bullish momentum and suggests further upside potential.
Stop Loss: To manage risk, it is crucial to place a stop loss order at 67.06. This level will protect your position in case of an unexpected reversal.
Take Profit: The suggested take profit level is set at 69.06, aiming to capture a favorable profit target within the bullish move. Adjustments can be made based on your personal risk appetite and market conditions.
Please note that it's essential to closely monitor the price action and make necessary adjustments if the market dynamics change significantly.
Disclaimer: This analysis is solely based on technical factors and the Dow Theory. Always perform your own due diligence and consider other fundamental and market factors before making any investment decisions.
Happy Trading!
Disclaimer: The above post is for informational purposes only and should not be considered as financial advice. Trading in stocks involves risks, and it is important to conduct thorough research and consult with a qualified financial advisor before making any investment decisions.
