BYCO Byco Petroleum Limited Short-Term Analysis 28 Sep 2016

Rebound Insight

Our Pivot:  20.75

Our Preference: Buy BYCO above 23.06 and average it out till 21.76 with strict stop loss of 20.75 and profit target at 26.68 with extension towards 28.82.

Alternate Scenario: Downward penetration of 20.75 will call for 18.75.

NOTE: BYCO is getting support from supportive trend line of its bullish trend channel along with its weekly corrections. Daily Stochastic and MAORSI have generated cross overs therefore its ready for a bullish spike on short term bases.

Recommendations:

Buy BYCO above 23.06 and average it out till 20.75 with target at 26.68

Weekly Chart with Supports and Resistances: