PIBTL Pakistan Int. Bulk Terminal Limited short term analysis 2nd Feb. 2021

Further Advance

Our Pivot: 11.00

Our Preference: Start buying PIBTL from current price and average it out till 12.20 with strict stop loss of 11.00 and profit target at 14.30 with extension towards 15.40 and 16.00.

Alternate Scenario: Downward penetration of 11.00 will call for 10.25 and 10.00.

NOTE: PIBTL is going to give bullish breakout of its triangle on daily and weekly charts and breakout of this triangle would call for expansion in shape of a bullish price channel.

Chart with supports & resistances: