PRL - PSX - Weekly Technical AnalysisOn weekly TF, since Feb 2022 PRL is making HHs and HLs.
Regression Channel (RC) has been drawn with Upper Standard deviation set at 3 and Lower Standard deviation set at 2. In RC, central dashed line is most frequently visited by the price action. In addition, a weekly trend line (blue) has also been drawn. It is observed that price action respects trend line for taking support by it.
Anyway, PRL seems to be continuing its upward movement in the channel. However, its delayed payments by Govt for the last 2 years is major concern. If somehow, this aspect is improved then this SCRIPT can perform much better. In upcoming major military exercises of India may also trigger Risk Off scenario where Oil & Refinery Sector can get a boost as well. KVO suggest that this SCRIPT is about to go up. No divergence on RSI so trend should continue.
Trade Values:
Buy-1: 35.68 (CMP)
Buy-2: 31.31
SL: 28.19
TP-1: 44.44
TP-2: 51.35
