PSX: Ascending Triangle, Not Confirmed (89,92%)(32/1000)

(32/1000)

Ascending Triangle for PSX on the weekly chart.
Not confirmed
Possible 89,92% gains.

As per graph on the right, energy sector (SPN) is building into an ascending triangle (not confirmed) with a possible 41,62% gain.

PSX analysis:

Pros:

1- Bullish Ascending triangle
3- PPS above 50MA and 200MA
3- R/R ratio above 5
4- 250RSI above 50 and ascending
5- 50MA ascending
6- RS above 0 and ascending
7- 50MA above 200MA
8- Golden cross in blue

Cons:

1- 200MA flat
2 - ATR descending, less volatility

Target price is 235,25$

Stay humble, have fun, make money!

MAAX!