ATRL Attock Refinery Short term analysis 5th June 2020

Under Pressure

Our Pivot: 95.00

Our Preference: Start short selling ATRL from current price and average it out till 92.78 with strict stop loss of 95.00 and profit target at 87.60 and 87.00.

Alternate Scenario: Upward penetration of 95.00 will call for 97.60 ad 101. 

NOTE: ATRL have given breakout of its rising wedge in downward direction on daily chart and right now its being capped by a strong descending trend line.

Daily chart with Supports & Resistances: