MLCF – Breakout vs. Fakeout – What to Watch?
:
The stock is testing a long-term resistance trendline, which has previously acted as a strong barrier.
A breakout should be confirmed with strong volume for sustainability.
If a rejection occurs, price action could see a short-term pullback before retesting resistance.
Key price target post-breakout: 58+ PKR
Potential Buying Zones:
Buy-1: Around 48-16%
Buy-2: Around 44-22%
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.