KSE-100: Possibility of break away from consolidation

Although the KSE-100 index registered a lower low, it recovered to close above its trendline (red line) and in the process registered a higher high. There is a strong possibility that the KSE-100 index breaks away from the consolidation around its trendline and registers a new high.

The Stochastic Oscillator maintains its buy signal while the RSI is stable and still has some room before it becomes overbought. Moreover the MACD has now generated a buy signal as well.

We maintain our buy stance on the KSE.

KASB Securities and Economics Research

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