PAEL – Symmetrical Triangle Breakout Loading?PAK Elektron Ltd (PSX: PAEL) has been consolidating for months inside a symmetrical triangle, with price hugging the 10 & 20 SMA zone. The breakout could be just around the corner.
📊 Technical Outlook:
Pattern: Symmetrical triangle within a larger consolidation box.
Current CMP: 41.95
MA10 on monthly: Acting as dynamic resistance.
Volume: Noticeable spikes during upswings, showing accumulation.
RSI: Neutral zone at 52 – plenty of room for momentum in either direction.
📝 Trading Plan:
Buy 1: CMP (41.95)
Buy 2: 38.6 (on dip if retest happens)
TP1: 47.5 (near 0.382 Fib level)
TP2: 60 (major Fib retracement level 0.5)
SL: 34.5
⚡ Why Interesting?
Price has been coiling, reducing volatility – a breakout can trigger strong moves.
Weekly & Monthly structure shows alignment for a potential uptrend continuation.
Above 49.5, momentum could accelerate toward 62+.
🔍 Watch Levels:
42.50 breakout confirmation zone
38.50 retest support
49.5 major resistance
Disclaimer: This is not financial advice – just my personal trade setup based on technical analysis. Always do your own research before entering any trade.
