MUREB Strong Rebound with Potential RetracementThe chart displays the daily price movement of Murree Brewery Ltd. (PSX), showing a significant uptrend after a prolonged downtrend from 2018 to early 2023. The stock has recently rallied strongly, reaching a high around PKR 705.69 before facing resistance, as indicated by the Fibonacci retracement levels plotted. The price currently hovers around PKR 615, suggesting a potential retracement phase. Key support levels include the 38.2% (PKR 516.76), 50% (PKR 494.47), and 61.8% (PKR 472.17) Fibonacci levels. The chart indicates that a break above PKR 640 could lead to further bullish momentum, while a decline below PKR 568.30 might signal a deeper correction.
