PPL Pak Petroleum Limited Mid Term Analysis 27 Oct. 2017

Rebound Insight

Our Pivot: 169.00

Our Preference:  Buy above 180 and average it out till 176.50  with strict stop loss of 169.00 and profit target at 204.00 and 208.80.

Alternate Scenario: Downward penetration of 169.00 would call for 155.00.

NOTE: PPL is trying to penetrate a weekly triangle in bullish direction and right now its supported by a rising trend line along with horizontal supportive region. Weekly stochastic have created a bullish crossover which would push it in bullish direction.

Weekly chart with supports and resistances: