SPWL LONG TRADE (10-06-2025)SPWL LONG TRADE
On the daily timeframe, SPWL has been in a downtrend for a long time but has been consolidating in a trading range between PKR 11.5 and PKR 14.2 since October 2024. After an unsuccessful attempt to break above the range, the stock experienced a selling climax in the first and second week of May, which led to a sharp decline.
However, the stock reversed sharply upwards after the selling climax and returned to the trading range, consolidating for about a month. Indications now suggest that this consolidation is taking shape of an upward leg, supported by increasing volumes gearing up for an upward move.
During the recent upward movement, the stock created an Institutional Demand Zone (IFDZ), multiple bullish Fair Value Gaps (FVGs), and a bullish order block on lower timeframes.
🚨 TECHNICAL BUY CALL – SPWL🚨
1. Current level: PKR 12.1
2. PKR 11.9
3. PKR 11.8
1. TP1: PKR 12.3
2. TP2: PKR 12.7
3. TP3: PKR 13.1
*Stop Loss:* Below PKR 11.5
*Risk-Reward Ratio:* 2.8
Caution: Please buy in 3 parts in buying range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
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