EPCL, Weekly Bearish TrendWeekly Bearish Channel
Broken weekly support @ 40
Currently Retesting Support
Weekly closing above 40 will target it towards 52
Fail to break 40 will be an opportunity for short
short target 21-25
EPCL trade ideas
EPCL is ready to fly to 45EPCL has broken bearish trend and now it could fly to 45 level
Use Stop Loss as per your risk taking methodology
Note: this is not a buy/sell call. This is analysis
EPCL - Long EPCL has given a breakout of a very strong trendline and there is a bullish divergence adding confluence of a trend reversal. Hence, going long on EPCL in PSX.
EPCL is BullishPrice was in a strong downtrend, however a bullish divergence led to the break of previous lower high indicating the control of bulls, if the pressure sustains then we can expect a bullish reversal. However, caution must be practiced as it is a risky setup. There is a high probability that the asset would go into an accumulation phase before a bullish rally. Targets are mentioned on the chart.
EPCL🚀 Stock Alert: EPCL
📈 Investment View: Technically Bullish 📈
🔍 Quick Info:
📈 Entry Level: 43.30
🎯 Target Level: 45.50
⚠ Stop Loss: 42.20
⏳ Nature of Trade: Short Term (Scalping)
📉 Risk Level: Medium
☪ Shariah Compliant: YES
💰 Dividend Paying: YES
📰 Technical View: The current price movement is evaluating a support level, coinciding with the observation of a Doji candlestick pattern, traditionally interpreted as indicative of a potential reversal in market direction. Furthermore, the Relative Strength Index indicates an oversold condition. Consequently, a strategic assessment suggests contemplating a long position entry point at the resistance level of 45.50.
EPCL breaks continuation pattrenContinuation patterns, including triangles, flags, pennants, and rectangles, provide some logic on what the market may do. Often these patterns are seen mid-trend and indicate a continuation of that trend, once the pattern is complete.
Though there is Bullish Divergence on Weekly TF butThough there is Bullish Divergence on Weekly TF but
it broke its Important Support around 40.
Last Week's Candle is a Doji Candle; now coming
week's Candle would decide its next move.
Also Currently, it is Near Trendline Support; lets see
if it is respected or not.
If it isn't sustained, we may witness 26 - 28.
Bullish on EPCLI expect epcl to explode from current levels and make new highs. According to time cycles the stock consolidate for 3.5 years approx before every bullish cycle. Each time after cosolidation the stock has given a 3x retrun to its shareholders.
EPCL is BullishEPCL has broken previous lower high and hence is looking good for an upward move. Targets are mentioned on the chart.
PSX: EPCL OPPORTUNITY FOR SMART ENTRY.EPCL is a chemical company providing raw materials to many construction related indutries.
It has been in downtrend for very long. Recently it hit the low of 38.5 which is the lowest low so far. From this point it reversed and posted a high of 47.95, which is a significant gain. Than comes retracement which is a natural eventuality.
If we apply fib. retracement to this gain we realize that price, almost, retraced to the level of 0.38 which is a healthy sign and to day it has printed a green candle which may be a clue to reversal. the only caution to this scenario is the volume, which is lower than the 20sma.
Here it will be advisable to keep close monitoring of the security and we may use fib. level of 0.5 as support levels and conformation with high volume can trigger a buy call.
At 49.25 we have a resistance on the chart, when crossed shall lead to TP-2.
EPCL Channel Broken, correction is expected,
Double bottom formation on cards.
Below are given Strong Support Zone
as per time frame.
Out come : Slow Accumulation is advised..
Supports:
Daily
43.80 - 43.20 - 40.80 - 39.70
Weekly
43.20 - 39.70
Monthly
37.70
Muhammad Ovais
EPCL Support may play well here, else in case support is broken then expect 39.75 double bottom
upper side is open accumulation shall be done.
