TRG Trg Pakistan Analysis 15 May 2013
Bias Remains Bullish above 8.52
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 and 12.06 with extention towards 12.84
Alternative Scenario: Downward Penetration of 7.65 will call for 6.67
NOTE: TRG have fullfilled its correction period and is getting a strong support from a rising trend line at 8.58 and 8.68 area, Now its trying to recover from its correction phase and is going to amend its previous high on mid term basis. Short term investors can Buy TRG above 8.52 with strict stop and profit target at 10.67. Mid Term Investors can hold it till 12.06 and 12.84.
Recommendations:
Fresh Entry: Between 8.52 to 8.85 area
Existing Buyers: Hold till 10.67 and 12.06 area
Daily Chart with Supports & Resistances:
Weekly Chart with Supports & Resistances:
3 COMMENTS
John Doe
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