Categories: Technical Analysis

TGL Cup & Handle bullish formation and breakout

Tariq Glass Limited (TGL) formed a cup & handle pattern few days ago. The stock has now broken out of this pattern with a bullish candle on high volume.

TGL had a volume of 1.49mn shares today which is well above its average daily volume for this year.

The company also has its board meeting on the coming weekend and the stock could well be positioning itself for a possible positive result.

Either way, it is worth keeping an eye on. The economy seems to be opening back up and interest rate cuts could start anytime. In such a scenario, cyclical stocks like TGL always benefit.

KSEStocks Charts

Share
Published by
KSEStocks Charts
Tags: TGL

Recent Posts

Shifa International (SHFA) has returned 150% in two months, will the rally continue?

Shifa International (SHFA) has already rallied 150%, but there is still more upside to the…

1 week ago

HUBC’s base plant expiry: What is next for the power giant?

The closure of the Hub Power Company Limited (HUBC) plant marks a significant shift in…

2 months ago

How well did Fatima Fertiliser perform in 2QCY24?

Fatima's 2QCY24 financial performance reflects a challenging quarter, marked by a significant decline in profitability…

3 months ago

How is HMB handling financial challenges to grow?

Habib Metropolitan Bank Limited (HMB) recently released its second-quarter results for 2024, revealing a mixed…

3 months ago

How does MARI and POL reserve life compare?

In the oil and gas sector, the longevity of reserves is a critical measure of…

3 months ago

Is Cherat Cement poised for growth?

Cherat Cement Company Limited (CHCC) has recently released its financial results for the fourth quarter…

3 months ago