PSX - Bullish Signal

Fundamentals

- Petroleum & Coal industries have reported growth in July 2020.
- Long term debt to equity ratio is in the lower spectrum.
- Diversified business makes it more sustainable in this difficult time.
- EPS expectation is very high for next year

Technicals

- MACD line is rising above the signal line.
- Retraced down to Fibonacci level 61.7% and now rising.
- MACD histogram is rising.
- Hit the lower bollinger band and rising
- Falling wedge is formed and price rose above the upper line.

PSX