BOP LONG TRADE
BOP has been in an uptrend since June 2024, completing an impulsive 5-wave structure (waves 1-2-3-4-5). Following the uptrend, the stock entered a distribution phase, which was then followed by a corrective channel (marked in pink) consisting of 3 pushes down (A-B-C correction).
After completing the corrective channel, BOP has been in an absorption phase since the first week of May. Notably, the stock has shown signs of a valid breakout, supported by:
- Volume distribution analysis
- Price moving above EMA
- Breakout from the corrective channel
🚨 TECHNICAL BUY CALL –BOP🚨
- BUY1: 10.25 (current level)
- BUY2: 10.00
- BUY3: 9.80
- TP1: PKR 11.00
- TP2: PKR 11.96
- TP3: PKR 12.48
- TP4: PKR 12.96
STOP LOSS: Below 9.10 (CLOSING BASIS)
RISK-REWARD: 1:3
Caution: Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
BOP has been in an uptrend since June 2024, completing an impulsive 5-wave structure (waves 1-2-3-4-5). Following the uptrend, the stock entered a distribution phase, which was then followed by a corrective channel (marked in pink) consisting of 3 pushes down (A-B-C correction).
After completing the corrective channel, BOP has been in an absorption phase since the first week of May. Notably, the stock has shown signs of a valid breakout, supported by:
- Volume distribution analysis
- Price moving above EMA
- Breakout from the corrective channel
🚨 TECHNICAL BUY CALL –BOP🚨
- BUY1: 10.25 (current level)
- BUY2: 10.00
- BUY3: 9.80
- TP1: PKR 11.00
- TP2: PKR 11.96
- TP3: PKR 12.48
- TP4: PKR 12.96
STOP LOSS: Below 9.10 (CLOSING BASIS)
RISK-REWARD: 1:3
Caution: Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.