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.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.