PAEL Pak Electron Short Term Analysis 13 Dec. 2017

Further Advance

Our Pivot: 39.60

Our Preference: Buy above 43.80 with strict stop loss of 39.60 and profit target at 54.60 and 59.80.

Alternate Scenario: Downward penetration of 39.60 would call for 34.40.

NOTE: PAEL is being supported by two supportive lines on weekly chart along with a horizontal supportive region. Weekly stochastic is ready for a bullish crossover.

Weekly chart with supports and resistances: