SLGL LONG TRADE
- *Initial Trend*: Upon induction in PSX, SLGL formed an apex, reaching a high of 20.47, followed by a corrective oblique pullback channel - which is actually a Price Action Bull Flag.
- *Higher High Attempt*: The stock attempted to post a higher high but was unsuccessful, indicating potential resistance.
- *Strong Day Closing Candle*: After completing its full wave cycle, SLGL formed a robust Marabuzo candle, indicating potential bullish momentum.
🚨 TECHNICAL BUY CALL – SLGL🚨
- *Buy Levels*:
- Buy 1: 16.13
- Buy 2: 15.44
- Buy 3: 14.7
- TP1: 16.8
- TP2: 17.45
- TP3: 17.95
- *Stop Loss*: 14.25 (closing basis)
- *Risk-to-Reward Ratio*: 1:2.21
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.
- *Initial Trend*: Upon induction in PSX, SLGL formed an apex, reaching a high of 20.47, followed by a corrective oblique pullback channel - which is actually a Price Action Bull Flag.
- *Higher High Attempt*: The stock attempted to post a higher high but was unsuccessful, indicating potential resistance.
- *Strong Day Closing Candle*: After completing its full wave cycle, SLGL formed a robust Marabuzo candle, indicating potential bullish momentum.
🚨 TECHNICAL BUY CALL – SLGL🚨
- *Buy Levels*:
- Buy 1: 16.13
- Buy 2: 15.44
- Buy 3: 14.7
- TP1: 16.8
- TP2: 17.45
- TP3: 17.95
- *Stop Loss*: 14.25 (closing basis)
- *Risk-to-Reward Ratio*: 1:2.21
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.
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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.