PAEL Pak Elektron Ltd Analysis 06 May 2014

July 1, 2014 2:48 pmComments Off on PAEL Pak Elektron Ltd Analysis 06 May 2014Views: 1011

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Support ahead at 21.62

Our Pivot: 20.91

Our Preference: Buy PAEL above 22.66 and add averages till 21.62 with strict stop loss of 20.91 and profit target at 24.42, closing above 24.48 will call for a new bullish era towards 26.40

Alternate Scenario: Downward penetration of 20.91 will call for 19.50 and 18.72

NOTE: PAEL is going to get strong supports from horizontal supportive areas along with its 280 weeks moving average and a rising trend line which is supporting it since Nov. 2013 so its recommended to initiate buying on given levels.

Recommendations:

Buy above 22.66 till 21.62

Weekly Chart with Supports and Resistances:

PAELW06052014

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