Allcargo logistics

26 ago

Allcargo Logistics has been trading sideways for nearly 20-21 months since its peak in November 2022, indicating a prolonged consolidation phase. The recent price action suggests that this corrective phase may be coming to an end, with the potential for a new impulsive move upward. With a strong support level identified at 58, this presents a strategic buying opportunity. A stop-loss at 58 is recommended to manage downside risk, while a target of 150 could be achieved in the coming months or years if the bullish momentum unfolds as anticipated.