Long
ENGRO KSE100 PAKISTAN STOCK EXCHANGE
ENGRO CARPORATION Certainly
1. Bullish Divergence on RSI:
- A bullish divergence occurs when the price of a stock makes lower lows, but the Relative Strength Index (RSI) makes higher lows.
- In this case, it suggests that despite the stock price declining, the momentum (as indicated by RSI) is turning positive.
2. Trade Levels:
- Entry Level: The recommended entry point for buying Engro Corporation stock is around 341.
- Stop Loss: To manage risk, set a stop loss at 316. If the stock price falls to this level, consider exiting the trade.
- Take Profit: The target for profit-taking is 367. If the stock reaches this level, consider 50% selling book profit and 50% to take ride TP 2.
3. Implications:
- The bullish divergence on RSI indicates potential upward momentum.
- However, always monitor the stock's behavior and adjust your strategy as needed.
Remember that trading involves risks, and it's essential to have a well-defined plan and risk management strategy. Happy trading! 📈🚀💰ATION
1. Bullish Divergence on RSI:
- A bullish divergence occurs when the price of a stock makes lower lows, but the Relative Strength Index (RSI) makes higher lows.
- In this case, it suggests that despite the stock price declining, the momentum (as indicated by RSI) is turning positive.
2. Trade Levels:
- Entry Level: The recommended entry point for buying Engro Corporation stock is around 341.
- Stop Loss: To manage risk, set a stop loss at 316. If the stock price falls to this level, consider exiting the trade.
- Take Profit: The target for profit-taking is 367. If the stock reaches this level, consider 50% selling book profit and 50% to take ride TP 2.
3. Implications:
- The bullish divergence on RSI indicates potential upward momentum.
- However, always monitor the stock's behavior and adjust your strategy as needed.
Remember that trading involves risks, and it's essential to have a well-defined plan and risk management strategy. Happy trading! 📈🚀💰ATION
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.