PAEL PakPak Elektron Ltd Short-Term Analysis 28 Sep. 2016

Further Advance

Our Pivot: 68.02

Our Preference: Start buying PAEL from current price and average it out till 69.70 with strict stop loss of 68.02 and targets at 73.71 and 75.08.

Alternate Scenario: Downward penetration of 68.02 will call for 67.02 and 65.05.

NOTE: PAEL is getting support from supportive trend line of its bullish trend channel along with a horizontal supportive region. Weekly Stochastic have generated a crossover and right now its ready for a short term pull back.

Recommendations:

Start buying from current price and average it out till 69.70 with target at 73.71.

Weekly Chart with Supports and Resistances: