DGKC | Is This Cup & Handle Pattern?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.
