MLCF Maple Leaf Cement Weekly Analysis 13 May 2013

MLCF Upside Prevails Our Pivot: 17.13 Our Preference: Buy MLCF as long as 17.83 is sustained as support with a strict stop loss of 17.13 and profit target at 19.65 and with extention towards 21.75 Alternative Scenario: Downward Penetration of 17.13 will call for 16.36 NOTE: MLCF is moving in an upward channel but is facing a pressure and is capped at 19.65 by a trend line on weekly basis. Buying can be initiated in MLCF with a strict stop loss of 17.13 which falls on a trend line which is support to its bullish trend since December 2012. MLCF have penterated its first short term  resistance at 19.19 and is going to face a new resistance at 19.65, breakage of 19.65 will call for new bullish sentiment towards 20.56 and 21.75. Recommendations: For New Entries ( Buy above 17.83) For Existing Buyers ( Hold till 19.65) Weekly Chart with Supports and Resistance: MLCF

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John Doe

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Diana Doe

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Melissa Doe

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Peter Doe

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