PSX: HINO Mark the Cherry to pick it laterHINO, a security from Auto sector, defined the bottom a year ago since than it is trying to let itself loose to gravitate towords north. Its first attempt in the last quarter of year 2023 could not sustain yet it gave the bulls hope to muster their power again. Albeit it has not crossed the previous high but the weekly closings suggest that it may retrace to the Fib. levels of 0.5 & 0.618 i.e. Rs. 288, 275, respectively and these prices could be used as smart entry points. If price brake low the Stop Loss than we may get out of position.
For TP the resistance level has been used on the chart, which are Rs.348 & 399.99
Wishing you a profitable trading.
