adeelahm1979

PSO Head and Shoulder formed, waiting for PRZ

Largo
PSX:PSO   PAKISTAN STATE OIL CO LTD
PSO already formed a head and shoulder. I have tracing this for a while. Based on the projection derived from the top of the head to the neckline, a potential reversal zone should be forming around an area where a previously low is present making a candidate for double bottom. I will evaluate the bullish divergence around double bottom and based on the divergence and confirmation of the HH and HL, I will go long. At the moment waiting patiently and anticipating the formation of the double bottom.

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