OGDC Best choice for Swing Traders

OGDC technical analysis 27 May
Posted by: Hafsa Talpur 1

OGDC Best choice for Swing Traders

OGDC (Oil and Gas Development Company) in monthly time frame it took approximately a year to break the monthly consolidation area.

See the weekly time frame market structure is in higher high and higher low formation.

Remember past, once it broke the consolidation area. It gives good rally of upside.

From 142 till 131 Ogdc is stuck in the range.

But every dip is a buying opportunity.

In daily time frame, if it close below the 115 area then the trend would be change.

Otherwise the more the stock take time to breakout , the greater breakout happens.

You could accumulate in this range. From 137~ 132

Sell half and hold half would be good approach in between 150 to 155 area.

Even it can easily go to 170 area if it closes above 158.

In addition, it is june closing year end company.

Disclaimer
Always take trade with your own risk appetite.
Before taking any trade do your own research first.
Financial markets are very risky, you need to learn to earn.

For more queries you can contact me on instagram page Simplemarket11

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