PRL Pakistan Refinery Limited short term analysis 16th Dec. 2020

Rebound Insight

Our Pivot: 19.30

Our Preference: Start buying PRL from current price and average it out till 20.40 with strict stop loss of 19.32 with profit target at 23.60 with extension towards 24.40.

Alternate Scenario: Downward penetration of 19.30 will call for 18.50 and 17.30.

NOTE: PRL is going to retest a strong horizontal supportive region and complete correction of its last bullish rally and if it would succeed in maintaining above these both objects then it would bounce back for a new monthly high.

Daily chart with supports & resistances:

PRL 7

Overview

Quick Snapshot

Free Float

78,750,000

O/S Shares

294,000,000

Market Cap. (m)

0.00

Var Value

15.00

Hair Cut

22.50

Last Price

21.29

Price Adjusted

52 Weeks Range

52w Low

52w High

Intraday

Pivots

Level	1st	2nd	3rd
Supports	20.49	19.68	18.33
Resistances	22.65	24.00	24.81

Adjusted

Price Performance

Time Frame

Price Ch

%Ch

MTD Price Return

2.39

19.24

QTD Price Return

2.39

19.24

3M Price Return

-0.12

-0.80

6M Price Return

-1.59

-9.70

9M Price Return

-9.44

-38.93

YTD Price Return

0.62

4.37

1Y Price Return

-9.04

-37.90

3Y Price Return

-0.08

-0.54

5Y Price Return

-31.08

-67.73