TRG TRG Pakistan Short Term Analysis 6th May 2020

Turning Down

Our Pivot: 22.67

Our Preference: Start short selling TRG below 19.30 and average it out till 20.60 with strict stop loss of 22.67 and profit target at 15.50 and 14.40 with extension towards 12.30.

Alternate Scenario: Upward penetration of 22.67 will call for 25.60.

NOTE: TRG is being capped by two strong horizontal resistant line on daily and weekly chart while completing correction of its last bearish rally. Meanwhile weekly momentum indicators are trying to change their direction towards bearish side.

Weekly Chart with Supports & Resistances: