ABOT Weekly Technical Outlook – Long-Term Bullish Setup in PlayABOT 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.
