Gul Ahmed TextileGATM possilble Bullish trend.
Accumulation period broken,
with increased volumes,
high chances of a bullish trend
GATM trade ideas
GATM Offers 30% upside on weekly chartAfter achieving TP1 of 25.05 and TP2 of 26.69, GATM is poised to make another stream of gains. This time 30% upside, if weekly closing is above previous High of 26.81, with SL @17.4 for Potential Target price of 35.71.
Since the trade is on weekly chart, it can simply take 2-3 months to achieve the Target.
GATM:- CONSOLIDATION MAY CONVERT IN TO BREAKOUTGATM is a prominent player in textile sector. It has been in consolidation since the start of 2024. Now it has formed a triangle. If the price close above the recent high i.e. 21.30 it is expected it shall also break above the triangle. In such scenario the TP shall be 26. SL is at 17.75.
Due diligence and strict money management is solicited.
Have a profitable trading.
GATMWe can attempt to buy GATM from specified level as 0.5 FIB also intact , also there is no bearish divergence.
SL , TP mention in chart.
GATM is BullishPrice has broken previous lower high and bulls seems to be in control. A bullish rally could be triggered from here, targets are mentioned on the chart.
GATM🚀 Stock Alert: *GATM*
📈 Investment View: Technically Bullish 📈
🔍 Quick Info:
📈 Entry Range: 20-20.50
🎯 First Targets : 21.50
🎯 Second Targets : 23.00
⚠ Stop Loss: 18.80
⏳ Nature of Trade: Short Term (Scalping)
📉 Risk Level: Medium
☪ Shariah Compliant: NO
💰 Dividend Paying: YES
📰 Technical View: Following a rebound from the support level of 19, the price is presently trading around 20, indicating a potential accumulation phase. Initial resistance is anticipated at 21.50, with a secondary resistance at 23. To manage risk, it is advisable to set a stop loss below the previous low, approximately around 18.80.
GATM Flag PatternPossible pull back is expected according to flag pattern observed in 15 minutes time frame. Rejection towards lower channel can be seen in the price. Wait and watch for the pull back for new entry around 21.85. Break out of the flag can pull the price towards 23 level (resistance area). On the flip side, if it breaks downward and sustains 21.50 level then exit from the trade because it can go further down.
GATM is BullishGATM is printing higher highs and higher lows, price has defined a new higher low (as three white soldiers are printed )and is ready for next leg up. Targets and projections from AB = CD are mentioned on the chart.
GATM - LONG- Uptrend
- No divergence on 1D and 4H
Entry: 22.73, 21.61
SL: 20
TP 1: 30% offload @ 25.41
GATM We are Witnessing a Breakout Gul Ahmed Textile Mills Ltd. is a prominent plays in textile sector.
It posted a high price of 21.40 in the last days of May 2023. Afterwards the prices have been declining. From the middle of September it started gaining the momentum.
Start of November witnessed sharp rise in the price and intraday breach of previous high. After few days it crossed over the same hurdle but with more zeal. Albeit it couldn't sustain the closing above but the healthy volume suggest it is a matter of time only.
We believe this time we may see a hyper move in the price.
Have a profitable trading.
