PAKCEM Pakcem Limited Mid-term Analysis 11 May 2016

Rebound Insight

Our Pivot: 15.50

Our Prefernce: Buy above 17.55 and average it out till 16.70 with strict stop loss of 15.50 and profit target at 20.43 and 21 with extension towards 21.76.

Alternate Scenario: Downward penetration of 15.50 will call for 14.34.

NOTE: PAKCEM have completed its 84.12% weekly correction and right now its getting support from a rising trend line which is also supportive trend line of its weekly triangle and a supportive horizontal line. Weekly Stochastic is also ready for a crossover which will result in a pullback.

Recommendations:

Buy above 17.55 and average it out till 16.70 with targets at 20.43 and 21.

Chart with Supports and Resistances: