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Pakistan Refinery LimitedPakistan Refinery LimitedPakistan Refinery Limited

Pakistan Refinery Limited

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Short term retracement for a long term trendIt seems like PRL is going to enter a short term retracement as it faced rejection at a key level of 21.99. If volume falls further, expected retracement is at level of 17.79 (about 50% retracement from a key move upward. It may go a bit downward to 60% retracement of its initial move, but nothing to worry. It may be a good point to buy again. As elections has been announced, we are looking for a good rally upward. Keep an eye for bad news, as oil prices are falling, it may affect revenue.
PSX:PRLLong
by AnalytixEdgeByQasim