KSE-100: Will the Momentum Keep Climbing?
Market Brief:
KSE-100 Index reduced 0.27% or 223.9 points to close at 81,850.5 points. Intra-day the index reached a peak of 82,463 and a low of 81,549. Volumes decreased by 33.08% compared to the previous trading session. The index is currently trading above the 50-day SMA level of 78,877.
The index opened the trading session with a bullish bias, reaching a high of 82,463. However, it subsequently retreated from the previous closing price, ultimately establishing a low of 81,549. Notably, the KSE-100 remains 15.59% above its 200-day moving average, reinforcing an upward trajectory. Moreover, the MACD indicator currently displays a bullish configuration, with the signal line positioned below the MACD line and accompanied by green histograms.
Recommendation:
The index will likely find initial support around 82. If this level is breached the index could drop further to the 80,960 – 80,532 range. On the upside, KSE-100 is expected to encounter initial resistance near 82,501 points with a breakthrough leading to the 82,929 – 83,486 range.
KSE-100 Index reduced 0.27% or 223.9 points to close at 81,850.5 points. Intra-day the index reached a peak of 82,463 and a low of 81,549. Volumes decreased by 33.08% compared to the previous trading session. The index is currently trading above the 50-day SMA level of 78,877.
The index opened the trading session with a bullish bias, reaching a high of 82,463. However, it subsequently retreated from the previous closing price, ultimately establishing a low of 81,549. Notably, the KSE-100 remains 15.59% above its 200-day moving average, reinforcing an upward trajectory. Moreover, the MACD indicator currently displays a bullish configuration, with the signal line positioned below the MACD line and accompanied by green histograms.
Recommendation:
The index will likely find initial support around 82. If this level is breached the index could drop further to the 80,960 – 80,532 range. On the upside, KSE-100 is expected to encounter initial resistance near 82,501 points with a breakthrough leading to the 82,929 – 83,486 range.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.