This chart for Pakistan Tobacco Co Ltd (PAKT) shows a classic cup and handle pattern, which is a bullish continuation signal. The stock experienced a downtrend followed by a rounded bottom (the cup), and it has now formed the handle with a slight consolidation. The recent breakout past the handle indicates a potential upward price movement. The target price appears to be around 1,266 PKR, reflecting a 19.86% potential gain from the current level of 1,050 PKR. The volume has also increased, supporting the breakout, and the overall trend suggests further upward momentum.
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13% profit running. . .Trade closed: target reached
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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.