D.G. Khan Cement (DGKC) is showing strong bullish momentum, breaking past key resistance levels. Currently trading around 126.68 PKR, the stock is hovering near a crucial breakout zone at 127 PKR. If it sustains above this level with volume, we could see further upside. However, a failure to hold could lead to a pullback towards key Fibonacci retracement levels.
The Golden Ratio (0.618 level at 113.46 PKR) is a significant support zone, often considered an ideal level for potential reversals. Other support levels include 121-118 PKR (0.236 and 0.382 Fibonacci levels), which could act as strong demand zones if a correction occurs.
Meanwhile, the Relative Strength Index (RSI) is near overbought territory, indicating strong buying pressure but also a potential risk of short-term exhaustion. If bulls maintain control and push beyond 127 PKR, DGKC could enter a new rally phase. However, if the price faces resistance, we might see a healthy retracement before another move higher.
With the stock at a decisive point, traders must watch whether this breakout sustains or turns into a false signal. Will DGKC continue its bullish trend, or is a correction on the horizon? Let me know your thoughts below!
The Golden Ratio (0.618 level at 113.46 PKR) is a significant support zone, often considered an ideal level for potential reversals. Other support levels include 121-118 PKR (0.236 and 0.382 Fibonacci levels), which could act as strong demand zones if a correction occurs.
Meanwhile, the Relative Strength Index (RSI) is near overbought territory, indicating strong buying pressure but also a potential risk of short-term exhaustion. If bulls maintain control and push beyond 127 PKR, DGKC could enter a new rally phase. However, if the price faces resistance, we might see a healthy retracement before another move higher.
With the stock at a decisive point, traders must watch whether this breakout sustains or turns into a false signal. Will DGKC continue its bullish trend, or is a correction on the horizon? Let me know your thoughts below!
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