Updated: NPL settling at 38.2% fibonacci level again!
Update (07/12/2023):
The share price of NPL bounced off the 0.38 Fib level on high volume which has sparked 4 consecutive green candles. The share price should rally further if it manages to break the resistance at its previous high of Rs. 32.70.
Original Article:
Nishat Power Limited (NPL) recently corrected to its 0.38 Fibonacci retracement level after making a 52-week high of Rs. 32.72. It looks to be consolidating around the 29.06 support level as shown in the chart below.
📢 Announcement: We're on WhatsApp – Join Us There!Â
Â
Â
The 0.38 Fibonacci level is significant as it is the same level that the price corrected to during its previous correction as shown below:
⚠️ 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 →
Leave a Reply