FCEPL honours previous support levels

I last mentioned in my previous FCEPL technical analysis post that FCEPL had entered a region of historic resistance.

As things turned out, it got rejected from those resistance levels as shown below.

Since that rejection, the stock has taken support at the Rs. 63.4 level, which falls in a support zone that has been respected 12 times in the last 3 years!

📢 Announcement: We're Moving to Discord – Join Us There! 

Hi everyone! 👋

To improve your experience and offer additional features, we’re moving our community from WhatsApp to Discord!

Here’s what you’ll get on Discord:

✅ Research Reports Channel – Access a regularly updated compilation of valuable research reports
✅ PSX24/7 Bot – Ask anything about the PSX and get instant insights powered by KSEStocks historical data
✅ Organized Channels – Separate spaces for discussions, news, reports, and more
✅ Better Notifications – Control what you see and when
✅ Smoother Interaction – Easier to follow and participate in conversations
✅ Organized trading ideas - trading ideas that you can discuss and keep track of

Join now 👉 https://discord.gg/kST9hWjS

Clearly this is an important level and the fact that the stock has respected it and bounced off it shows it is a good accumulation point for those who want to add to your position.

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →