$PIBTL Pakistan International Bulk Terminal Ltd (PIBTL): Gushing The Saucer – By Alpha-Akseer Research
$PIBTL
Pakistan International Bulk Terminal
Rs. 16.74
-0.42%
- The stock is undergoing a cyclical shift in direction from a long-term bear trend that persisted between 2015 till 2023. The focus, though, is on the phase from Sep. ’20 till Sep. ’25 during which price formed a saucer formation. The neckline for this pattern is at 14.30 which received clear breakouts in October and retests of this breakout in November.
- The targeted upside for this long-term formation comes at 25.20 measured by the height of the saucer and extended from the neckline. Support on pullbacks comes around 16.50-16.58 while risk is defined into closings below 14.30.