DGKC DG Khan Cement Mid-Term Analysis 13th Feb 2019

Turning Down

Our Pivot: 106.30

Our Preference: Short sell DGKC below 97.60 and average it out till 99.60 with strict stop loss of 106.30 and profit target at 84.20 with extension towards 80.

Alternate Scenario: Upward penetration of 106.30 will call for 111 and 113.57

NOTE: DGKC is being capped by a descending trend line at its 61.8% correction of previous bearish rally along with a strong horizontal resistant region at completion of its gap. Weekly momentum indicators are loosing strength and it can start expansion of its correction.

Weekly Chart with Supports & Resistances: