UBL share is near to breakout, stock is consolidating from 1st September between 1570-1600.
Stock get rejected four times from the level of 1600.
So if stock is giving the BREAKOUT you can make a position once it cross 1607.
Our Target is 1640, once it cross 1640 we can see more upward momentum.
1) On 15min time frame, It has made a big bullish candle on 2nd Sep. High of that candle was 1608.25 and low of that candle was 1564.20.
Since-then it has been trading sideways in this range and not able to give sustainable breakout on either of side.
Please refer below chart : 15 time frame. ...
#UBL #unitedbreweries potential breakout
breaking out of a major 3 year old resistance and weekly momentum rang shift and bounce in progress
could go long if a green close seen above the resistance on daily. Momentum
and trend is bullish all around. Could be into watchlist for now
1) On Daily time frame it took good support and reversal from 21DMA. And now it is in the critical range and it is to break it or leave it.
Once it starts to stay and trade above 1475 level then it will be good for positional trade with 5% target.
Please refer below chart : Daily time frame. ...
UBL (NSE Cash)
Market cap: 307.86B
Rel vol: 2.27
Avg vol: 578.59K
***All technicals are bullish
Daily chart (long term)
The first support, 20 DEMA is at 1154.59 and the first resistance is at 1274.45 so the risk to reward ratio is close to 1:1 which is good.
The chart is in an uptrend...
UBL has given a breakout above its resistance with good volume. The stock looks bullish now for a movement towards 1080/1130.
RSI(14) > 60
PRICE > 50EMA
Keep SL as per your RR.
I will trail my SL after TGT1 hits.
UBL is trading in a range from past 2 months and as we can see selling pressure with good volumes in last trading sessions.
Incase if breaks low of yesterday and sustains below 930, we can see further low and can test 880 levels.
Pls add to watch list
This is a 45 minute chart of UBL.
Stocks formed a bearish Head and Shoulder pattern at higher levels and broke down. Now its retesting the neckline at 1364 levels which may be a good selling opportunity.
Sell UBL at around 1360 with a closing stoploss above 1375 targets can be 1284 and 1256.
Decisive close above 1275/80 levels will give NSE:UBL wings, can fly to retest 52 wk high of 1314 and close above that can take stock to 1400 levels.
Buy above 1275 (once hourly candle closes above that) with SL of 1250,
TGT: 1314/1353 and above
Off-late I started investigating more on predicting the next candle for the day and seeing enough success by using the patterns of various indicators. Pine scripting in tradingview has helped a lot to automate everything and create necessary signals. Based on the engine's call, tomorrow (26-Mar-2018) will be a super "RED" for NSE:UBL