SLGL is presently forming a flag pattern, which is expected to break out above the flag's resistance level of PKR 16.50-17. A successful breakout above this level could lead to a test of the previous top resistance at PKR 20-20.50.
If the stock breaks through this resistance with increased buying volume, the pattern's validity would be confirmed, with a potential target of PKR 27.
Disclaimer
This analysis is based on personal observation and should not be considered as investment advice. It is essential to evaluate the company's financial performance, monitor relevant news, and manage risk accordingly before making any investment decisions.
If the stock breaks through this resistance with increased buying volume, the pattern's validity would be confirmed, with a potential target of PKR 27.
Disclaimer
This analysis is based on personal observation and should not be considered as investment advice. It is essential to evaluate the company's financial performance, monitor relevant news, and manage risk accordingly before making any investment decisions.
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