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
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