ASC Al-Shaheer Corporation Analysis 04 July 2016

Rebound Insight

Our Pivot:49.51

Our Preference: Buy above 52 and average it out till 50.70 with strict stop loss of 49.51 and profit target at 58.92.

Alternate Scenario: Downward penetration of 49.51 will call for 45.65.

NOTE: ASC is getting support from a rising trend line along with a horizontal supportive region.Weekly Stochastic also have generated crossover and its ready for a bullish ride.

Recommendations:

Buy above 52 and average it out till 50.70 with target at 58.92.

Daily Chart with Supports and Resistances: