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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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.