DGKC is Bullish

19 Kas

The macro trend was bullish, however the price went down for retracement and was respecting a descending trendline since August, however now it has given a breakout after the emergence of bullish divergence. Bulls seem to be in complete control of the price action and previous lower high is also broken successfully, hence we can expect new highs as per Dow theory. Moreover, the reversal also came from 0.67 of Fib retracement which is a potential reversal zone for AB = CD projection. Targets are mentioned on the chart.