Long-term investors can purchase stocks of Supreme Petrochem (£705) at current levels. The downtrend introduced since August last year has ended. In March this year, long-term trendline support, nearly £520, stopped the downtrend. The stock has risen very well from there, indicating that the trend is turning back. Recent rises above £680 confirm a double-bottom inversion pattern. Daily chart moving average crossovers also bolster bullish cases. Support is located in the 680-630 region. If seen, a mid-dip of less than 700 pounds will likely bring fresh buyers to the market at a lower level, limiting the downsides. The best Petrochem stock price could rise to £1,000 over the next year. Long-term investors can now buy the best Petrochem for £705. It accumulates in a 670 pound dip. Keep your stop loss at £510. When the price rises to £820, the stop loss continues to £730. When the prices touch £870 and £920 respectively, you will move the stop loss to another £830 and £880. The shares will be closed at £1,000. This bullish view is only incorrect if the stock price falls below the trendline support level of £520. If that happens, we’ll see a drop to £480, and even £400. However, the price action on the chart shows that it rarely falls below £630.
Released on May 25, 2025
