PAEL PakPak Elektron Ltd Short-Term Analysis 02 Nov. 2015

November 17, 2015 10:03 amComments Off on PAEL PakPak Elektron Ltd Short-Term Analysis 02 Nov. 2015Views: 843

Under Pressure

Our Pivot: 85.70

Our Preference: Short Sell below 80.85 and average out till 82.63 with strict closing stop loss of 85.70 and profit target at 71.95.

Alternate Scenario: Upward penetration of 85.70 will call for a new bullish era in PAEL and it will target 90.25 and 92.50.

NOTE: PAEL is getting resistance from a resistant trend line along with horizontal resistant area. It already have fulfilled its 61.8% weekly bearish correction and now can enter in expansion mode after closing below 7.95.

Recommendations:

Short sell below 80.85 and average it out till 82.63 with target at 71.95

Weekly Chart with Supports and Resistances:

PAELW02112015

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