PAKRI Pakistan Reinsurance Company Mid-Term Analysis 23 May 2013
PAKRI 26.76 insight
Our Pivot: 19.26
Our Preference: Buy above 20.95 or buy above 22.27 with strict stop loss of 19.26 and profit target at 23.88 and 26.76 with extension towards 31.05
Alternative Scenario: Downward penetration of 19.26 will call for 15.83
NOTE: PAKRI Prices took a rebound after retesting its support line of its bullish weekly channel and now have become stuck between its 50% to 61% Correction area. Its also getting a resistance from its 100 weeks moving average 22.27 so may be it will take a dip from these prices so that will be a best 0ppertunity to buy PAKRI other wise if it will become able to close above 22.27 area then it will also be a good sign for PAKRI to continue in bullish sentiment. so its recommend to start buying PAKRI and add average on each dip with profit target at 26.76.
Recommendations:
For New Entries ( buy 20.95 or 22.27 )
Existing buyers short term (Hold till 23.88 and 26.76.)
Weekly Chart with Supports and Resistance:
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John Doe
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