Page 23 | Ideas and Forecasts on Stocks — Sri Lanka

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SLT The stock has broken above the symmetrical triangle pattern and have reached Fibonacci retracement level of 1.618 where it has found resistance. It is safer for traders to wait and see how far down the stock may retrace to find support before creating the higher low level. Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.

by UnknownUnicorn33113667

AGST Following the failed retest of the Descending Triangle pattern after its breakdown on February 10th, the stock is attempting to consolidate around its 200-day moving average. If the stock is unable to find support around the Fibonacci 0.618 level, it may continue to move towards its previous lower low levels, and possibly even towards the Fibonacci 1.618 level and beyond. Without the creation of a proper uptrend, the stock may carry risk for traders who are uncertain where to set their stop-loss. If there is a break above the long-term trendline, coupled with a bullish divergence on the Relative Strength Index (RSI), it may indicate a potential reversal of the bearish movement of the stock.

Short

by UnknownUnicorn33113667

Updated

AGST The stock has recently bounced off its 200-day moving average, and is currently testing the lower boundary of a descending triangle pattern. If the stock manages to break through resistance and close above 15.60, this could signal a continuation of the bullish trend. Conversely, if the stock fails to break through and encounters resistance around 15, this could indicate a bearish reversal.

by UnknownUnicorn33113667

Updated

CALT CALT has broken out of a Inverted Head and Shoulder pattern with good volume while reaching near the Target Price of 33.50 based on the pattern. With RSI at trendline resistance, I would be cautious on how the price will behave next. Disclaimer: Please conduct your own research before making any investment decisions and note that this is not investment advice.

by UnknownUnicorn33113667

Updated

BIL | Inverted H&S The stock has broken out of the inverted head and shoulder pattern through the neckline resistance at 6.20. However, it has yet to break through the descending trendline resistance and the 30-day moving average. The existing head and shoulders and RSI trendline breakouts suggest a potential bullish movement of the stock.

Long

by UnknownUnicorn33113667

Updated

CIC.N The stock price is currently facing resistance from sellers near a descending trendline. To make an informed decision, it may be safer to observe whether buyers can overcome the selling pressure and push the stock price higher.

by UnknownUnicorn33113667

MELS | Will it break FIB 0.65 ?The stock has broken above the descending trendline resistance and has reached the Fibonacci retracement resistance levels of 0.618 and 0.65. A further break above these levels could push the stock towards the 67.5 level at the Fibonacci retracement of 0.786. However, in the case of a retracement, the stock should find support from the descending trendline and the Fibonacci retracement of 0.5

Long

by UnknownUnicorn33113667

REXP | Long Consolidation The stock has undergone a 3-month long consolidation within a horizontal price channel. If there is a breakout above 660, it is expected that the stock will reach 730 levels, and even 765 levels to reach Fibonacci retracement of 0.5. To manage risk, it is safer to have a stop-loss below the previous lower low of 570.

Long

by UnknownUnicorn33113667

HAYL | Breakout with Volume Given the breakout from the horizontal channel above 77, there is a possibility that the stock may reach a high of 90 or higher to test the FIB 0.5 levels. If there is a retracement, 77 level should act as support.

Long

by UnknownUnicorn33113667

APLA The stock is currently testing its 200-day moving average while consolidating within a Rising Wedge pattern. Traders should also monitor the ascending trendline on the Relative Strength Index (RSI), as a potential breakout below this trendline may indicate a bearish reversal of the stock's price.

by UnknownUnicorn33113667

MASK.N #CSELK MASK is consolidating in the current range. 43-43.5 need to break and settle above it to go to next step. MACD showing sell, but blue line about to cross to make a buy signal. MA Cross already showing early buy signal. NOT FA. PLEASE DYODD

by xTDGS

KOTA Has formed a falling wedge pattern while testing 200-Day MA for support.

by UnknownUnicorn33113667

HEXP If 53.5 is broken HEXP could move towards FIB Retracement level 0.5 while testing 200-Day Moving Average.

by UnknownUnicorn33113667

#KCAB Not Investment advice as the heading says this is just an idea.

Long

by saad99x

ELPL With the breakout of the Descending Triangle to the upside it is possible for the stock to test FIB retracement levels of 0.5 and 0.618

Long

by UnknownUnicorn33113667

LWL With the existing indication of a bullish divergence on the RSI, a breakout of the stock price above the descending trendline resistance at 50 would signal a bullish reversal. Traders may consider setting their stop-loss below 47.50.

Long

by UnknownUnicorn33113667

ALUM Based on the breakout of the Falling Wedge pattern, ALUM shows indications of a bullish continuation with a potential progression towards FIB retracement levels of 0.5 and 0.618 once current resistance level of 7.30 is broken.

Long

by UnknownUnicorn33113667

SUN Based on the breakout of the Symmetrical Triangle pattern, SUN shows indications of a bullish continuation with a potential progression towards FIB retracement levels of 0.5 and 0.618. If necessary, a target price of 45.5 can be considered in accordance with the pattern.

Long

by UnknownUnicorn33113667

CFVF Should check the behavior of price movement cautiously since RSI is at trendline resistance and price at ascending trendline resistance. A close above resistance level of 41 will indicate a bullish continuation while a close below support level of 31 may indicate a bearish revisal. Disclaimer: Please conduct your own research before making any investment decisions and note that this is not investment advice.

by UnknownUnicorn33113667

FCT FCT has formed a Symmetrical Triangle with a hidden bullish divergence on RSI. Inverted Head & Shoulder pattern too could be in the formation. A close above descending trendline resistance generally indicate a bullish continuation while a close below long-term ascending trendline support generally indicating a bearish reversal. Disclaimer: Please conduct your own research before making any investment decisions and note that this is not investment advice.

by UnknownUnicorn33113667

JKH - 15.02.2023 JKH - 15.02.2023 Price is testing the S zone between 136.75 and 140.00 MACD line has crossed below the signal line. Which is bearish. But above the zero line. RSI has crossed below the 50 point middle line.

by nisashi

CSEACL Results for the 6 Months ending is 18Rs EPS. Upcoming earnings for the year to have a bearing on the future direction of the share price. PE wise the share is attractive under 70rs. The company is exposed to Export markets, and thus an automatic hedge. Support is expected to come below 70rs. Technically share price declined today on heavy selling pressure. This could be due to anticipated earnings release in this week.

Short

by ArifeenRavin

CSEGRAN Earnings for the last quarter is yet to publish. Results will be the key driver along with overall market sentiment. Based on Fib levels, currently trading around the golden ratio with a overbearing of the results. Trading near psychological support 75Rs. The POC is well above the CMP. Support to come around 70-65 levels.

Short

by ArifeenRavin

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