PAEL displays a promising bullish reversal pattern characterized by the formation of pennant pattern. Additionally, the stock price is supporting its ascending trend. Our plan entails accumulating the stock within the designated buy zone (23.50-24 range), while setting stop loss orders below 21.30 to manage risk effectively. Anticipation builds initially around...
In this chart we have observed a Ascending Triangle formation we lead towards a upwards breakout. we have place three entry points if you forget to take an entry.
TP = 24.22
Entry = 22.55 , 23 , 23.20
SL = 22.38
PAEL has given a breakout from the consolidation phase and is looking good for an upside rally. It would make a new higher high followed by a higher low before reaching the target of around 31. Targets are mentioned on the chart.
After posting hefty gains the script has been sideways or retracement. On last working day the security closed above the recent trend line, which was limiting its movement. Simultaneously the RSI has also shown a positive sign by closing above its Moving Average.
So risk takers can buy immediately whereas those who prefer cautious approach can buy when the price...
PAEL rejected from weekly resistance zone, wait for support zone to buy it. i highlighted 2 potential support zone in chart. 1st it might take support from Fib golden pocket, 2nd option it might take support from daily support zone.
According to Dow theory, PAEL is in trending phase and printing higher highs and higher lows, it is expected that the rally would continue further. Targets are mentioned on the chart.
After having a significant downturn the PAEL is Bottoming out. Currently it is printing higher high. Therefore, this shall be a great level to take position in the script.
