PPL Pakistan Petroleum Ltd. short term analysis 18th Jun. 2020

Under Pressure

Our Pivot: 93.35

Our Preference: Short sell PPL below 90.30 and average it out till 91.50 with strict stop loss of 93.35 and profit target at 87.70 with extension towards 85.50.

Alternate Scenario: Upward penetration of 93.35 will call for 97.60.

NOTE: PPL have given breakout of its rising wedge in downward direction.

Hourly chart with supports & resistances: