The 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.
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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.