This chart for Dewan Farooque Motors Ltd (DFML) displays a "Dragon Pattern," a bullish reversal signal. The pattern is characterized by two distinct lows (labeled as Foot #1 and Foot #2), followed by a breakout above the resistance line (marked as "Entry"). The head and hump within the pattern indicate consolidation before the breakout. The take profit targets are clearly outlined at 51 PKR (Take Profit 1) and 53.80 PKR (Take Profit 2), with the current price at 47.40 PKR. A stop-loss is set at 44.20 PKR, indicating a risk-reward ratio of 2. The chart suggests a favorable potential upside, supported by increased volume during the breakout.
Trade closed: stop reached
Stop Loss Hunt
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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.