TRG TRG Pakistan short term analysis 28th Oct. 2020

Under Pressure

Our Pivot: 52.50

Our Preference: Start short selling TRG below 50.30 and average it out till 51.35 with strict stop loss of 52.50 and profit target at 47.90 with extension towards 46.75.

Alternate Scenario: Upward penetration of 52.50 will call for 54.60.

NOTE: TRG is moving downward after facing rejection from 50% correction of its last bearish rally and resistant trend line of its rising wedge.

Hourly chart with supports & resistances: