ENGRO Engro Corporation Analysis 19 June 2013

• 2013-06-19 09:04:59
• 28 Comments
• 101 Views
• kse-analysis
• Noor Maier

Downside Prevails

Our pivot: 147.82 Our Preference: Short Sell engro below 144.62 and 145.56 with a strict stop loss of 147.82 and profit target at 136.62 and 132.84 with extension towards 128.72 and 126.84 Alternative Scenario: Upward Penetration of 147.82 will call for 152.24 NOTE: Engor is moving back after testing its strong resistance at 152 and now have entered into a bearish phase, Daily Closing below 138.10 will call for a new bearish eara in Engro but before it can take a last spike towards 144 and 145 so its recommended to short sell engro below 145.56 and 144.62. Mid impact indicators like MACD and RSI along with Stochastic are indicating a serious bearish mode in Engro. Recommendations: For New Entries (Short Sell Below 144.62) Daily Chart with Supports and Resistance: Weekly Chart with Supports and Resistance:

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