WAVES Waves Singer Pakistan Ltd. short term Analysis 20th April 2022

Rebound Insight

Our Pivot: 13.75

Our Preference: Star buying Waves above 15.25 and average it out till 14.30 with strict stop  loss of 13.75 and profit target at 17.30 with extension towards 18.80.

Alternate Scenario: Breakout below 13.75 will call for 12.70 and 12.00 therefore it's recommended to post strict stop loss at 13.75 and adopt cut and reverse strategy on breakout below this region.

NOTE: WAVES have given bullish breakout of its descending wedge on daily and weekly chart and coming downward to retest resistant trend line of said wedge as supportive one, it's expected that a sharp bullish pull back would be witnessed after retesting.

Daily Chart with Supports & Resistances: