KML - Daily TF, Technical AnalysisKML after the 10/1 split share price dropped from PKR 146.77 to 14.67 and then it continued its price drop due to profit booking. Historically, this SCRIP retraces to 50% Fib level before starting its next run for HH.
At present, the price after retracing to 50% Fib level is almost maintaining 38~42% for the last 2 weeks consolidation. It may take even 1 to 2 weeks for once again going upwards but you never know it may go up even in one day as hidden bullish divergence has been observed on RSI. KVO is below zero level but its signal line (blue) is almost parallel to Klinger oscillator (green), suggesting slow transition but both lines are very close as well, therefore, any good news or bad news will give its immediate results.
For trade consider buying at levels mentioned on the chart.
ABCD harmonic pattern has been plotted to arrive to the TP-4.
