PTC Pakistan Telecommunications Company Analysis 14 July 2016

Upside Prevails

Our Pivot: 13.46

Our Preference:  Buy PTC above 15.78 and average it out till 14.60 with strict stop loss of 13.46 and target at 17.11 and 17.83.

Alternate Scenario: Downward penetration of 13.46 will call for 12.10.

NOTE: PTC have penetrated its bearish trend channel in upward direction and right now its getting support from a rising trend line along with horizontal supportive region. Weekly stochastic also have generated a bullish crossover.

Recommendations:

Buy above  15.78 and average it out till 14.60 with target at 17.11 and 17.83.

Weekly Chart with Supports and Resistances: