EFOODS Engro Foods Limited Mid-Term Analysis 01 March 2017
Rebound Insight
Engro Foods Ltd.Food Producers |
Price: 178.79Change: -3.21 2017-02-28 |
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| Open: | 182.00 | 52 Week High: | 211.00 | Market Capitalization Mln: | 137059.71 | ||
|---|---|---|---|---|---|---|---|
| High: | 184.50 | 52 Week Low: | 122.50 | Outstanding Shares. Mln: | 766.60 | ||
| Low: | 176.45 | 52 Week Avg.: | 159.43 | KSE AllShares % Weight-age: | 1.42 | ||
| Close: | 178.79 | 52 Week Max Vol.: | 12710600 | KSE100 % Weight-age: | 0.55 | ||
| Average: | 180.44 | 52 Week Min Vol.: | 0 | KSE30 % Weight-age: | 0.83 | ||
| Volume: | 879500 | 52 Week Total Vol.: | 364124900 | Data Last Updated: | 2017-02-28 | ||
Rebound Insight
Our Pivot: 161
Our Preference: Buy EFOODS above 175 and average it out till 167 with strict stop loss of 161 and profit target at 188 and 198.60 with extension towards 203.
Alternate Scenario: Downward penetration of 161 will call for 156 and 149.
NOTE: EFOODS is moving in an upward price channel on weekly chart and right now it have fulfilled its 50% correction, it have strong supportive regions ahead where it will get support from a horizontal supportive region at 175 and 170 at its 61.8% correction and a previous resistant trend line which will react as a support now.
Recommendations:
Buy above 175 and average it out till 167 with targets at 188 and 198.60.
Weekly Chart with Supports and Resistances:
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