TPLP poised for reversal on high volume

TPLP technical analysis march
Posted by: KSEStocks Charts 0

TPLP poised for reversal on high volume

TPL Properties Limited (TPLP) finally entered the list of top-volume stocks today. It witnessed the trading of 14.8 million shares, helping it into the top 5 most traded stocks of the day.

Taking a look at the chart, the signs of reversal through RSI divergence may be forming. Here is the TPLP technical analysis chart after today’s closing:

The volume had been slowly increasing in the last few days and today surged to over 14 million shares traded. This caused the stock to close at the upper lock at Rs. 11.44.

The chart has not yet formed divergence on the RSI but considering the fact that selling momentum has not increased as much despite the formation of new lows suggest it might be imminent.

TPLP chart

TPLP has been in the news recently because of the announcement of TPLP REIT. SECP recently approved the issuance of Offer for Sale document of TPL REIT FUND. This fund is 38.6% owned by TPL Properties Limited.

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Comments (2)

  • AC Reply

    Why was it down the next day?

    March 30, 2024 at 5:49 pm
  • Anonymous Reply

    Great entry point if reversal happens.

    March 29, 2024 at 7:16 pm

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