ABOT Weekly Technical Outlook – Long-Term Bullish Setup in Play

ABOT has presented a compelling long-term bullish setup following a strong recovery and consolidation phase. Here's a technical breakdown:

🔍 Chart Overview (1W TF):

Entry Trigger: Confirmed breakout above PKR 1165, reclaiming the 0.382 Fibonacci level.

Stop Loss: Below key support zone near PKR 1022–1039, aligned with SMA 10 & 20.

Breakout Zone: ABOT is now retesting its previous all-time high zone between PKR 1145–1172, setting up for a potential continuation.

📐 Fibonacci & ABCD Projections – Long-Term Targets:

📌 TP1 (Fib 0.5): PKR 1281

📌 TP2 (Fib 0.618): PKR 1396

📌 TP3 (Fib 0.786): PKR 1562

🎯 Extended Target (Fib 1.0): PKR 1771

These levels align with a classic AB=CD harmonic projection, signaling potential for sustained upside over the coming months.

📈 Indicators Insight:

✅ SMA 10/20 crossover bullish; price now trades well above both.

✅ RSI (14) currently at 60.45, showing healthy momentum but still below overbought levels – room to run.

📊 Volume spikes on breakout candles confirm buyer interest.

💡 Strategy Summary:

📥 Buy Zone: Above PKR 1165

🛑 Stop Loss: Below PKR 1022

🎯 Targets: PKR 1281, 1396, 1562, and 1771

This is a textbook trend continuation setup following correction and consolidation. Keep a close watch on volume follow-through and strength above the breakout zone to confirm trend expansion.