Bearish Divergence on Daily TF + Bearish Divergence on Daily TF +
a very Strong Resistance around 50.
Next Support seems to be around 34 - 35.
and if 32.50 is broken, we may see trend reversal.
SSGC trade ideas
SSGC - PSX - Technical Analysis - Fib and AB=CDSSGC is in bull run since 23 Oct 2024.
KVO is suggesting a very strong buying with high volumes.
RSI Indicator is almost at 82, indicating a very strong control of Buyers. Previous data analysis also suggest that RSI touched 93 level before prices went into retracement. Therefore, still there is some room for prices to go further up before retracement begins.
Historically, a resistance zone is present between 41.50 to 43.61. Therefore, a retrace is very much possible after testing TP-1.
Hence, drawn AB=CD pattern is also in confluence with this analysis for arriving to the TP-1.
ATH (All Time High) of 54.78 is TP-2 and even beyond is possible in this bull run. SSGC is expected to be staying in Bull run till end Feb, but will depend on Dec quarterly report as well.
Trade Values
Buy (Mkt) : 35.89
TP-1: 41.58
TP-2: 54.78
Though it is Still Bullish but,...
Though it is Still Bullish on Longer Time Frames,
but If 20.80 is not broken, we may find
this point to be a Confirmed HL.
On the flip side, Crossing & Sustaining 29,
we may witness 38 then 40+
SSGC is ready to flySSGC is breaking level in monthly chart and its key level is 16.5, After breaking this level it will go to 22 level.
SSGC made double bottomssgc was in downtrend and know on daily chart it has formed double bottom formation,rsi shows bullish divergence which is a sign of reversal good investment opportunity .
SSGC:- CHANCE OF BOTTOM FISHING,Since August 2015, after posting the historic high, the script has been in down trend. To break this vicious circle an attempt was made in the last quarter of 2023. Since than bulls have been under pressure.
In the month June the bulls have been holding the turf thus making a bullish divergence on RSI on daily time frame. Bulls have taken the price to the level of 10.21 twice. If the price is sustained above 10.25 we may initiate a long position. SL shall be at 8.25 and TP is at 14.2.
Due diligence and strict money management is solicited.
Have a profitable trading.
SSGC - LONGSSGC is currently in a bearish trend,
no divergence has been found
double bottom was printed on 8th may 24
there's a possibility of reversal from this zone
long entry is recommended after the breakout of
10.95 with sl of 10.09 and tp 11.81
SSGC Recognizing Trends and Key LevelsPresently, the price of the asset is on a downward trend, meaning it keeps making lower highs and lower lows after being stopped by a downward trend line. To switch to an upward trend, we need to see the price break above this trend line. The first level of support, where the price might bounce back up, is around 10.60. If it falls below that, the next support level is around 9.60. On the other hand, if the price manages to break and stay above 12, it could head towards the next resistance level at 13. Keep in mind, there's a significant barrier to further price increase around 14.20.
SSGCBuy1 : around 11.32 - 11.40
Buy2 : around 10.50 - 10.65
TP1 : around 12.30
TP2 : around 13
Stoploss 9.6 (closing basis)
SSGCBuy around 13 - 13.55
TP1 : 14.55 - 14.90
TP2 : 15.35
TP3 : 16.50 - 17
SL : 11.65 (closing basis)
