PAEL Pak electron short term analysis 12th Jan. 2021

Turning Down

Our Pivot: 43.65

Our Preference: Short sell PAEL below 42.00 with strict stop loss of 43.65 and profit target at 40.45 with extension towards 39.50.

Alternate Scenario: Upward penetration of 43.65 will call for 44.30 and 45.60.

NOTE: PAEL is moving downward after facing rejection from resistant trend line of its ascending wedge.

Chart with supports & resistances: