SSGC - PSX - Technical Analysis - Fib and AB=CDSSGC is in bull run since 23 Oct 2024.
KVO is suggesting a very strong buying with high volumes.
RSI Indicator is almost at 82, indicating a very strong control of Buyers. Previous data analysis also suggest that RSI touched 93 level before prices went into retracement. Therefore, still there is some room for prices to go further up before retracement begins.
Historically, a resistance zone is present between 41.50 to 43.61. Therefore, a retrace is very much possible after testing TP-1.
Hence, drawn AB=CD pattern is also in confluence with this analysis for arriving to the TP-1.
ATH (All Time High) of 54.78 is TP-2 and even beyond is possible in this bull run. SSGC is expected to be staying in Bull run till end Feb, but will depend on Dec quarterly report as well.
Trade Values
Buy (Mkt) : 35.89
TP-1: 41.58
TP-2: 54.78
