TRG The Resources Group Pakistan Analysis 27 May 2013
TRG Caution
Our Pivot: 7.65
Our Preference: Buy TRG above 8.52 with a strict stop loss of 8.04 and 7.65 and profit target at 10.67 Or buy abvoe 10.78 if it bcome able to close above 10.78 with profit target at 12.06 with extention towards 12.84 and 13.78
Alternative Scenario: Downward Penetration of 7.65 will call for 6.67
NOTE: TRG have become stuck between 61% Bearish and 50% Bullish Retracement area. In last days it have taken a reversal after fullfiling its 50% Bullish correction and rebounded back towards 10.78 where it got a strong resistance from its 61% Bearish correction level along with a gap trading strategy and now its coming back after filling its Gap at 10.78 and taking 61% bearish correction, so right now from these price levels its no more bullish therefore buy on dips is recommended and dips can be below 9.24 area.
TRG is Stuck between two strong levels so its recommended for small investors to wait for breakage of either side and then have to take entry. If someone have facility to short sell TRG then they can short it will strict stop loss of 10.78 and profit target at 9.24 and 8.72
Recommendations:
Fresh Entry: Between 8.52 to 8.85 area
Existing Buyers: Take exit from buying
Daily Chart with Supports & Resistances:
Weekly Chart with Supports & Resistances:
3 COMMENTS
John Doe
June 29, 2014 - 11:23 Proin eget tortor risus. Cras ultricies ligula sed magna dictum porta. Pellentesque in ipsum id orci porta dapibus. Lorem ipsum dolor sit amet, consectetur adipiscing elit.Diana Doe
June 29, 2014 - 11:23 Proin eget tortor risus. Cras ultricies ligula sed magna dictum porta. Pellentesque in ipsum id orci porta dapibus. Lorem ipsum dolor sit amet, consectetur adipiscing elit.Melissa Doe
June 29, 2014 - 11:23 Proin eget tortor risus. Cras ultricies ligula sed magna dictum porta. Pellentesque in ipsum id orci porta dapibus. Lorem ipsum dolor sit amet, consectetur adipiscing elit.Peter Doe
June 29, 2014 - 11:23 Proin eget tortor risus. Cras ultricies ligula sed magna dictum porta. Pellentesque in ipsum id orci porta dapibus. Lorem ipsum dolor sit amet, consectetur adipiscing elit.LEAVE A COMMENT