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PARQ Chart Pattern

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PARQ Chart Pattern

Post by xmart on Tue Feb 03, 2015 9:25 pm

This one is on my watch-list for some time and thought of sharing with all.

PARQ currently trading at FIb 38.2% retracement of 35. there is a (not perfectly theoretical) three drive pattern which indicate the bullish trend before the sudden ASI drop.

I do believe irrespective of ASI, each stock has its own style. like many other individual stocks in the market this one is also looks attractive.

open for discussion. ( i tortured the chart bit, one could see what he want to see if he torture a particular chart)

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Re: PARQ Chart Pattern

Post by sashimaal on Tue Feb 03, 2015 9:30 pm

Thanks Xmart , +

I am in collection mode for PARQ. Would like Rs 32 to be reached Smile
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Re: PARQ Chart Pattern

Post by xmart on Tue Feb 03, 2015 10:32 pm

thanks  sashimaal, im bullish too. any way did some digging too,

Phase 01: bearish divergence
Phase 02: bullish convergence
Phase 03: Price bounced back and dropped with thin volumes with ASI movements. but no force behind it.

therefore we can expect a bounce back at 38.2% which is a strong support. if ASI down to 6845 level (which is possible before a correction) PARQ has strong potential to bounce back at FIb 61.8% of 32.10.

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Re: PARQ Chart Pattern

Post by sashimaal on Tue Feb 03, 2015 10:34 pm

Thanks Xmart, +
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Re: PARQ Chart Pattern

Post by smallville on Wed Feb 04, 2015 7:30 am

So at 40s PARQ is a double top..

At 32s, is gonna be a double bottom too Smile

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Re: PARQ Chart Pattern

Post by Stumpie on Wed Feb 04, 2015 7:33 am

Buy @ 29-30
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Re: PARQ Chart Pattern

Post by xmart on Wed Feb 04, 2015 8:25 am

Yes small, its double topped and if market remain bearish it will break 32, but the problem is volume support. it is interesting to watch this chart.

stumpie, thanks mate. you are saying it is gonna break 32 (golden retracement) and stay at 30 level before breakout. anything is possible in CSE. we'll see! Smile

smallville wrote:So at 40s PARQ is a double top..

At 32s, is gonna be a double bottom too Smile
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Re: PARQ Chart Pattern

Post by sashimaal on Wed Feb 04, 2015 8:42 am

Quantities available will be very small if it comes to this level

Rs 32 will be good and last big quantities would be sold at these levels

Stumpie wrote:Buy @ 29-30
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Re: PARQ Chart Pattern

Post by Stumpie on Wed Feb 04, 2015 8:46 am

I bought it @ 10 sold @ 39.
This isn't a share which has very big volume!

Expecting to buy again around 30 depending on the market direction.
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Re: PARQ Chart Pattern

Post by sashimaal on Wed Feb 04, 2015 8:53 am

Great work Stumpie !

Dr Senthilverl has sold his quantity. So that 4 million plus shares are with others now...


Stumpie wrote:I bought it @ 10 sold @ 39.
This isn't a share which has very big volume!

Expecting to buy again around 30 depending on the market direction.
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Re: PARQ Chart Pattern

Post by WasteofTime on Wed Feb 04, 2015 9:21 am

I am holding 2 million worth of shares, bought at 20's
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Re: PARQ Chart Pattern

Post by sashimaal on Wed Feb 04, 2015 9:30 am

WasteofTime - Good to hold long term.

Let me know if you plan to sell.
Thanks

WasteofTime wrote:I am holding 2 million worth of shares, bought at 20's
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Re: PARQ Chart Pattern

Post by WasteofTime on Wed Feb 04, 2015 9:38 am

I want to hold it for some times, probably few quarters. However, I want to re think  after  recent comments  by RW about 4 gods .Will their be any impact like JKH and AEL?


sashimaal wrote:WasteofTime - Good to hold long term.

Let me know if you plan to sell.
Thanks

WasteofTime wrote:I am holding 2 million worth of shares, bought at 20's
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Re: PARQ Chart Pattern

Post by sashimaal on Wed Feb 04, 2015 9:46 am

I was also concerned about that matter a lot.

According to RPPA, chances of that affecting the tile industry and Parq is much less due to the impact it will have on foreign reserves - where people will import cheap Chinese and Indian tiles and that has to be paid in USD, etc.


WasteofTime wrote:I want to hold it for some times, probably few quarters. However, I want to re think  after  recent comments  by RW about 4 gods .Will their be any impact like JKH and AEL?


sashimaal wrote:WasteofTime - Good to hold long term.

Let me know if you plan to sell.
Thanks

WasteofTime wrote:I am holding 2 million worth of shares, bought at 20's
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Re: PARQ Chart Pattern

Post by xmart on Tue Mar 03, 2015 9:15 pm

History repeats. nice theoretical flags and bull trend. it was double bottomed at 33.50 and reached 49. this time it will retreat to its Fib 43.20 and may fluctuate bit and build its base around 43 then it will fly to 60. most probably with the March 31st results.

(this is purely based on technical. not a buy/sell recommendation)

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