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ASC Bullish Setup | Potential Long Opportunity
ASC is currently trading above the 50-day Exponential Moving Average (EMA) on the daily chart, indicating the potential for a bullish move in the near term. However, the price remains below the 200-day EMA, which suggests a prevailing bearish sentiment. Should the price approach and test the 200-day EMA, it is likely to encounter resistance.
A long position may be considered upon a retest of the price at PkR 6.50, with an anticipated target of PkR 10.50 over the next few months. To manage risk effectively, a stop loss should be placed at PkR 5.
This setup is intended as a swing trade and may require some time for confirmation. Please conduct your own analysis before making any trading decisions. If you find this idea helpful, kindly give it a thumbs up. Thank you!
A long position may be considered upon a retest of the price at PkR 6.50, with an anticipated target of PkR 10.50 over the next few months. To manage risk effectively, a stop loss should be placed at PkR 5.
This setup is intended as a swing trade and may require some time for confirmation. Please conduct your own analysis before making any trading decisions. If you find this idea helpful, kindly give it a thumbs up. Thank you!
Penafian
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