DGKC DG Khan Cement Short-Term Analysis 24 May 2016
Turning Down
D. G. Khan Cement Co.Construction and Materials (Cement) |
Price: 180.20Change: 0.08 2016-05-23 |
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| Open: | 180.12 | 52 Week High: | 185.01 | Market Capitalization Mln: | 78949.06 | ||
|---|---|---|---|---|---|---|---|
| High: | 181.30 | 52 Week Low: | 125.25 | Outstanding Shares. Mln: | 438.12 | ||
| Low: | 179.61 | 52 Week Avg.: | 151.43 | KSE AllShares % Weight-age: | 1.06 | ||
| Close: | 180.20 | 52 Week Max Vol.: | 10566700 | KSE100 % Weight-age: | 2.21 | ||
| Average: | 180.31 | 52 Week Min Vol.: | 281300 | KSE30 % Weight-age: | 3.31 | ||
| Volume: | 1453100 | 52 Week Total Vol.: | 789928100 | Data Last Updated: | 2016-05-23 | ||
Turning Down
Our Pivot: 190.14
Our Preference: Short Sell DGKC as Long as 184 Rs is sustained as resistance and average it out till 187 with strict stop loss of 190 and profit target at 169 Rs with extension towards 162 Rs/share.
Alternate Scenario: Upward penetration of 190.14 will call for 193.93.
NOTE: DGKC have completed third wave is bullish Elliot Wave and right now its getting resistance from resistant trend line of bullish trend channel along with a horizontal resistance or double top on weekly chart. Technically it needs a correction towards 155.99 or148.95 to complete its fourth wave and then it will turn back to post new history high along while completing 5th wave.
Recommendations:
Short as long as 184 is sustained as resistance and averge it out till 187 with target at 169 and 162.
Weekly Chart with Supports and Resistances:
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