DAWH Dawood Hercules Analysis 20 April 2016

Rebound Insight

Our Pivot: 98.75

Our Preference: Start buying DAWH above 115.51 and add averages till 109.67 with strict stop loss of 100 and profit target at 128 and 132 with extension towards 142.43.

Alternate Scenario: Downward penetration of 98.75 will call for 96 and 90.40.

NOTE: DAWH is getting support from supportive trend line of its bullish price channel along with two strong horizontal supportive regions. Weekly Stochastic is also ready for a bullish crossover. Weekly 61.8% correction is already completed

Recommendations:

Buy above 115.51 and add averages till 109.67 with target at 128 and 132 with extension towards 142.43

Weekly Chart with Supports and Resistances: