DOL LONG TRADEDOL has been in Uptrend since Jul 2022, it spent around two years in Re-Accumulation phase.
It broke out of this Re-Accumulation Zone in Dec 2024.
It re-tested this Breakout in Multiple Bottom Pattern since then.
It has now broke out of this Re-Test Zone yesterday and pulled back today.
It's at ideal levels to buy for next leg of uptrend.
🚨 TECHNICAL BUY CALL – DOL 🚨
🎯 BUY ZONE: Rs. 28-30
📈 TP 1: Rs. 33.80
📈 TP 2: Rs. 35.10
🛑 STOP LOSS: BELOW Rs 27 (Daily Close)
📊 RISK-REWARD: High Conviction | 1:3.1
Caution: Please close at least 50% position size at TP1 and then follow strict trailing SL to avoid losing incurred profits in case of unforeseen market conditions
PLEASE BOOST THE IDEA IF YOU FIND IT HELPFUL.
DOL trade ideas
DOLA bullish flag is a technical analysis pattern that indicates the continuation of an existing uptrend in a financial asset. It is named for its resemblance to a flag on a pole, where the "pole" is a sharp price increase and the "flag" is a period of consolidation or slight retracement that follows.
Characteristics of a Bullish Flag:
Flagpole:
A significant and rapid price increase leading up to the flag.
Indicates strong bullish momentum.
Flag:
A period of consolidation or slight downward retracement.
Typically takes the shape of a rectangle or parallelogram that slopes against the prevailing trend (downwards in this case).
Volume tends to decrease during the formation of the flag.
Breakout:
Occurs when the price breaks out above the upper boundary of the flag.
Confirmation of the pattern and often accompanied by a spike in volume.
Interpretation:
Continuation Pattern: The bullish flag suggests that after a brief consolidation, the price is likely to continue moving in the direction of the previous trend (upward).
Price Target: The potential price target after the breakout can be estimated by adding the length of the flagpole to the breakout point.
DOL | PSX | Breakout is imminentDOL, chemical sector item is looking for breakout from its range of 4 month consolidation
- Support being tested multiple times at 21.3
- 4 month of consolidation of price from 19.5 to 21.3
- An upside potential till 24.2 is open for short term
- Increasing vol suggests breakout is on cards