MLCF Maple Leaf Cement Short Term Analysis 12th June 2019

Rebound Insight

Our Pivot: 16.00

Our Preference: Start buying MLCF above 20.16 and average it out till 18.60 with strict stop loss of 16.00 and profit target at 25 and 27.60.

Alternate Scenario: Downward penetration of 16.00 will call for 15.15 & 14.30 Rs.

NOTE: DGKC is moving in a downward wedge on weekly chart while daily and weekly momentum indicators are bullish mode and it's expected that it would bounce back from its weekly double bottom, while two strong horizontal supportive regions would try to resist against current bearish momentum.

Weekly Chart with Supports & Resistances: