As drawn on the chart PFC is facing some resistance on the higher levels. There was a pull back it might run to take the top again.
Watch carefully it might give few excellent intraday opportunities.
This analysis gives you the idea about a swing trade opportunity in Power Finance Corporation Limited (PFC) stock on a weekly chart. The breakout is still about to happen. Either the stock is going to break the level of 90.55 and reach 104.75 (Approx. 16% upside move in short time) or it may face resistance at this level and may come back to 74.5 (Approx. 17%...
PFC is trading in a strong downtrend with a series of the lower waist but now we can see that from the bottom it is trying to break its downtrend line. Currently, we have support at 75.80 from which it takes a U-turn and moving upwards. At 89 we will see the trend line break out as well as shoulder break out and we can take a long position here with 50% capital...
Shorting opportunity PFC 1H time frame.
Reason.
1. RSI divergence
2. Price made higher high and touched upper resistance line.
Target 1st 122.80 and second 121.35.
PFC
Every thing is mentioned on the chart.
Analysis is for educational purpose only. Do your own research / or consult your financial adviser before taking a decision.
Take care & safe trading...!!!
