TRG The Resources Group of Pakistan Short-Term Analysis 12th Feb. 2018

Caution

Our Pivot: 42.10

Our Preference: Short Sell TRG below 39.37 and average it out till 40.50 with strict stop loss of 42.10 and profit target at 36.45 and 34. 

Alternate Scenario: Upward penetration of 42.10 would call for 44.40 and 45.60

NOTE: TRG is moving in an upward price channel and right now its capped by resistant trend line of said channel along with a horizontal resistant region which falls on a double top after completing a half moon on daily chart. Daily Stochastic have generated a bearish crossover and weekly is ready for that which would put pressure on TRG prices.

Daily Chart with Supports and Resistances: