Breakout Opportunity: DNCC Approaching Key Resistance
The weekly chart of Dandot Cement (DNCC) shows a recent 19.55% surge, closing at PKR 13.15. The stock is approaching resistance levels at PKR 15.70 (R1), PKR 16.25 (R2), and PKR 18.23 (R3), with a descending trendline acting as overhead resistance. A breakout above R1 could push the price higher toward R2 and R3. The support zone around PKR 6.00 indicates strong buyer interest, making it a good risk-reward setup. A long position could be considered above R1 (15.70), with a stop loss near PKR 11.
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