PTC Pakistan Telecommunications Limited Analysis 21 March 2013
PTC Pakistan Telecommunications Rebound
Our preference: Buy PTC as long as 19.14 and 18.90 are sustained as supports with target at 21.16 and 22.03 and 22.63 in extension.
Alternate Scenario: Downward penetration of 18.90 will call for 18.68 and 17.06
NOTE: PTC have generated a downward channel to take a major correction of 61% correction from 24.59 to 19.14 and is going to get a strong support around 19.14-18.90 area, buying can be initiated with a strict stop loss of 19.14 below 20.00 level with a profit target of 21.16 and 22.03 for a shorter term and 22.63 for a mid-term tenure.
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John Doe
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