GATM Gul Ahmed Textile Mills Ltd Analysis 20 April 2016

Rebound Insight

Our Pivot: 26.06

Our Preference: Buy GATM above 33.32 and average it out till 30.62 with strict stop loss of 26.06 and profit target at 40.14 and 42.57.

Alternate Scenario: Downward penetration of 26.06 will call for 23.42.

NOTE: GATM is getting support from a rising trend line along with a strong horizontal supportive region. Weekly RSI and Stochastic have generated crossover and now its ready for a bullish pull back.

Recommendations:

Buy above 33.32 and average it out till 30.62 with targets at 40.14 and 42.57.

Weekly Chart with Supports and Resistances: