SLT.N0000Forming a triangle pattern in daily chart. SLT is also protecting in 200EMA line.
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SLTL.N0000 trade ideas
SLT.N0000Wait for a pullback to 85 area
Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
SLT.N - SRI LANKA TELECOM PLCCSELK:SLTL.N0000
This chart and analysis are not financial advice. Do your own research before trading or investing.
Stock SLTL found solid support in the 89-92 zone, beginning an upward surge marked by a significant green candle. It tested the 98-100.50 resistance zone and closed just below it. The surge saw robust trading volume, reflecting optimism.
The daily RSI indicator is equally promising, as it broke above and closed beyond the resistance trendline (R TL).
SLT.N - SRI LANKA TELECOM PLCThis chart and analysis are not financial advice. Do your own research before trading or investing.
CSELK:SLTL.N0000
It is trading above the 10-day, 30-day, and 50-day moving averages (DMA), which are all converging to create a confluence zone.
Furthermore, the closing price has breached and is trading above the upper trend line of a triangle pattern.
Notably, there is strong support in the range of 89-92, and this support area has been consistently respected by the market at present.
SLT.N - SRI LANKA TELECOM PLCThis chart and analysis are not financial advice. Do your own research before trading or investing.
01. SLTL has recently achieved a significant breakthrough from a long-standing triangle pattern, marked by a substantial bullish candle and a notable surge in trading volume compared to the average. Moreover, it successfully surpassed both TL #1 and TL #2, overcoming the 50-day moving average resistance.
02. The convergence of TL #1 and TL #2 is expected in the range of Support 89.00-92.00, providing immediate support for SLTL. This area will serve as a confluence point for the two trendlines.
03. In terms of the RSI indicator, TL #1 may function as the initial line of support.
04. Currently, the primary resistance level stands in the range of 98.00-100.50.
SLT.N - SRI LANKA TELECOM PLCDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
CSELK:SLTL.N0000
SLT.N - SRI LANKA TELECOM PLCDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
CSELK:SLTL.N0000
SLT
Share price is testing the resistance trend line while taking the support of 100.50-103.00.
Additionally price is maintaining within a triangle shape.
Mean time there is a round bottom shape created.
SLT.N - SRI LANKA TELECOM PLCDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
CSELK:SLTL.N0000
SLT
The share price cut a declining trajectory for the third consecutive day but it close with the doji-style candle.
It tested the Support 92.50 - 95.00 and closed above it.
On the RSI indicator, The previous bearish trend line now will act as a support but it hasn't been tested.
SLT.N - SRI LANKA TELECOM PLCDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
CSELK:SLTL.N0000
SLT
The share price took a declining path for the last 2 days. but today the selling volume was less when compared to yesterday. It lost the support of Fibonacci level 0.5 after breaking about it.
Now we are looking at the next support level Fibonacci level golden pocket Zone which is also confluence with the previous trend line. MA 30 on the daily chart it's also going to provide support.
This share price might test both trend lines in the RSI indicator and on the Candlestick chart.
SLT.N - SRI LANKA TELECOM PLCDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
CSELK:SLTL.N0000
SLT
With the investor interest shifted to SLT.N the share price has broke out the trend line in both candle stick chart and also in RSI indicator.
SLTL | AnalysisAnalysis: The stock has found support from both the 30-day moving average and the Fibonacci retracement 0.5 level, but it is still within a flag pattern and has not yet broken out. If it fails to break out, it may retrace towards the Fibonacci retracement 0.618 level for further support. However, if it does break out of the pattern, it could potentially reach the ascending trendline for a retest.
Stop-Loss: 82 (10-day MA)
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
SLTThe stock has broken above the symmetrical triangle pattern and have reached Fibonacci retracement level of 1.618 where it has found resistance. It is safer for traders to wait and see how far down the stock may retrace to find support before creating the higher low level.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.