NBP National Bank Of Pakistan Mid-Term Analysis 20 May 2016
Rebound Insight
National Bank Of PakistanCommercial Banks |
Price: 54.18 Change: 0.28 2016-05-19 |
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| Open: | 53.90 | 52 Week High: | 62.10 | Market Capitalization Mln: | 115268.65 | ||
|---|---|---|---|---|---|---|---|
| High: | 54.60 | 52 Week Low: | 50.50 | Outstanding Shares. Mln: | 2127.51 | ||
| Low: | 53.50 | 52 Week Avg.: | 54.79 | KSE AllShares % Weight-age: | 1.54 | ||
| Close: | 54.18 | 52 Week Max Vol.: | 9498500 | KSE100 % Weight-age: | 1.40 | ||
| Average: | 54.05 | 52 Week Min Vol.: | 28500 | KSE30 % Weight-age: | 2.09 | ||
| Volume: | 3853500 | 52 Week Total Vol.: | 227240500 | Data Last Updated: | 2016-05-19 | ||
Rebound Insight
Our Pivot: 49.50
Our Preference: Start buying from current price and average it out till 52.27 with strict stop loss of 49.50 and profit target at 59.85 and 61.82.
Alternate Scenario: Downward penetration of 49.50 will call for 48.60 and 45.40.
NOTE: NBP is moving in an upward price channel and right now its getting support from supportive trend line of said channel, along with a strong horizontal supportive region. Weekly 61.8% correction is already completed therefore new buying can be initiated from current price.
Recommendations:
Start buying from current price and average it out till 52.27 with target at 59.85 and 61.82.
Weekly Chart with Supports and Resistances:
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