VKING stock has a good fundamental background and the owner is one of the richest families in Turkey. The company produces paper, mainly kitchen papers and paper towels which has good sell potential in the time of pandemia.
Technical analysis shows a fine bullish trend starting from march.
The main support and resistance areas which are now being active are 5 and 7.50 and 6.25 is a minor critical area.
6.25 is now a consolidation are and kind of a support for this stock but there is also a fibo retracement level which might be a good buy point the 0.618 retracement level (5.78) and that might also be a test for the trend line and a good support for the bullish move to continue its movement in the following weeks and in the long run may test the 10 lira resistance.
Technical analysis shows a fine bullish trend starting from march.
The main support and resistance areas which are now being active are 5 and 7.50 and 6.25 is a minor critical area.
6.25 is now a consolidation are and kind of a support for this stock but there is also a fibo retracement level which might be a good buy point the 0.618 retracement level (5.78) and that might also be a test for the trend line and a good support for the bullish move to continue its movement in the following weeks and in the long run may test the 10 lira resistance.
Trade closed: target reached