DGKC | Is This Cup & Handle Pattern?

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Here we have a classic pattern and price dynamics. A major high leads to a low and then a recovery wave. The recovery wave peaks before reaching the previous high and this reveals that a new drop is approaching.

Trading volume is low on the current rise and the latter part of it goes into a parabola. A parabola can only end in a retrace.

DGKC is now set to produce a correction, this correction is set to develop in the short- to mid-term.

RSI indicator if at over bought level while MACD is line is above the signal line, and can show a cross over which establish some negative stance on the price.

Fibonacci levels for the support are PkR123 (0.382 level) and PkR119 (0.5 level) from where a pull back can be expected

On the flip side, if the price gives a break out and closed above PkR137 level then only new bullish wave is expected.

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Ghi chú

Update on DGKC
Both the entry levels are achieved and currently price is at 129 almost above 8.40%. Notable resistance lies around 137 from where short term profit taking can be seen.

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Ghi chú

DGKC 135 🚀🚀

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DGKC break neck line resistance, next resistance lies around 142