BOP LONG TRADE 05-06-2025

BOP LONG TRADE

BOP has been in an uptrend since June 2024, completing an impulsive 5-wave structure (waves 1-2-3-4-5). Following the uptrend, the stock entered a distribution phase, which was then followed by a corrective channel (marked in pink) consisting of 3 pushes down (A-B-C correction).

After completing the corrective channel, BOP has been in an absorption phase since the first week of May. Notably, the stock has shown signs of a valid breakout, supported by:

- Volume distribution analysis
- Price moving above EMA
- Breakout from the corrective channel

🚨 TECHNICAL BUY CALL –BOP🚨
- BUY1: 10.25 (current level)
- BUY2: 10.00
- BUY3: 9.80
- TP1: PKR 11.00
- TP2: PKR 11.96
- TP3: PKR 12.48
- TP4: PKR 12.96

STOP LOSS: Below 9.10 (CLOSING BASIS)
RISK-REWARD: 1:3
Caution: Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.