ASTL Amreli Steels Limited Analysis 19 Dec. 2016

• 2016-12-18 22:00:36
• 28 Comments
• 129 Views
• kse-analysis
• Noor Maier

Amreli Steels    ENGINEERING				Price:  68.82    Change: 0.12    2016-12-16
Open:	68.70	52 Week High:	78.20	Market Capitalization Mln:	20440.33
High:	69.40	52 Week Low:	42.65	Outstanding Shares. Mln:	297.01
Low:	68.01	52 Week Avg.:	58.38	KSE AllShares % Weight-age:	0.22
Close:	68.82	52 Week Max Vol.:	5702000	KSE100 % Weight-age:	Not Listed
Average:	68.73	52 Week Min Vol.:	74500	KSE30 % Weight-age:	Not Listed
Volume:	309500	52 Week Total Vol.:	266999000	Data Last Updated:	2016-12-16

Rebound Insight Our Pivot: 60.30 Our Preference: Buy ASTL above 66.85 and average it out till 65.08 with strict stop loss of 60.30 and profit target at 75.00 and 77.60 with extension towards 85.71. Alternate Scenario: Downward penetration of 60.30 will call for 55.50. NOTE: ASTL is moving in an upward price channel and right now it have completed its 50% weekly correction. Daily Stochastic is trying to pullback from a horizontal supportive region.  Recommendations: Buy above 66.85 and average it out till 65.08 with target at 75.00 and 77.60 (with extension towards 85.71 on long term bases.) Weekly Chart with Supports and Resistances:

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