SGF - LONG Price Action & Indicators:
Current Price: PKR 98.20 (-0.38, -0.39%)
Moving Averages:
MA (21): PKR 96.29
MA (200): PKR 76.50
The short-term moving average (21) is above the long-term moving average (200), indicating an uptrend.
Volume: 83.7K
Pattern Analysis:
The price seems to be forming a bullish consolidation pattern, with clear indications of higher lows and resistance levels being tested.
The LuxAlgo Master Pattern Indicator outlines potential price movement scenarios:
If price breaks the consolidation zone, there is an upward target of approximately PKR 131.25.
A short-term pullback to retest support around PKR 90.00 is possible before an upward move.
RSI Divergence:
RSI Value: 58.08 (neutral-to-bullish zone).
Multiple RSI divergence signals marked with "Bear" and "Bull" labels:
Bullish divergences in mid-2023 and late-2024 signaled prior uptrends.
Bearish divergences appeared during corrections, notably in July 2023 and October 2024.
Current RSI momentum suggests potential for further upward movement, as it is not overbought.
Support and Resistance Levels:
Key Support Zones:
PKR 90.00 (recent consolidation support).
PKR 76.50 (200-day MA).
Resistance Levels:
PKR 100.00 (psychological and horizontal resistance).
PKR 131.25 (projected upward target).
Conclusion:
The chart indicates a bullish outlook, with consolidation providing a base for a potential breakout toward PKR 131.25. However, traders should monitor the RSI, volume trends, and critical support levels around PKR 90.00 for potential pullbacks before an upward move.
