DGKC DG Khan Cement Ltd Short Term Analysis 4th May 2020

Turning Down

Our Pivot: 101

Our Preference: Start short selling DGKC below 91.60 and average it out till 97.60 with strict stop loss of 101 and profit target at 78.81 with extension towards 72.60.

Alternate Scenario: Upward penetration of 101 would call for 107 and 111 therefore cut and reverse at that region would be beneficial.

NOTE: DGKC is being capped by strong resistant trend line along with a three consecutive horizontal resistant regions. Mean while weekly momentum indicators are trying to change their direction.

Weekly Chart with Supports & Resistances: