By (Misbah Maqbool)
July 6, 2020 (MLN):
KSE 100 WEEKLY CHART
KSE 100 DAILY CHART
Last Friday KSE 100 index closed up 73 points on DoD and 1,112 points on WoW basis to 35,051 level. During the week it came out from two weeks consolidation. Currently market is in uptrend which will be intact until market trades below 33,700 index level. Market’s shorter period moving average is above its longer period moving average. MACD signal line is trading above its 9 day exponential moving average.
Given below please find technical analysis view and charts of key scrips:
|KEY SCRIPS SHORT TERM TREND AND SUPPORT/RESISTANCE LEVEL|
|Symbols||Closing||Trend||Support/||MA Trend||MACD Trend|
|Support/Resistance value are mentioned in black and red respectively|
After coming out from consolidation DGKC is making higher highs. It has support at Rs. 77.85 for near future. EMA cross and MACD cross are providing positive trend indication.
Last week OGDC moving averages made a golden cross which is initial indication of positive trend. Other than moving average it seems that it is going through its consolidation which will end once it will close above Rs. 118 level.
Last week ISL has also come out from its consolidation pattern. Shorter period EMA is above its longer period EMA. MACD is also showing positive trend. In near future its support level will be Rs. 50.72.
Last week TRG has also come out from its consolidation and recorded a high of Rs. 33.49. Its near term support level is at Rs. 26.81 level.
Misbah Maqbool is a MBA and CIM (Chartered Investment Manager). He has served over 20 years as Portfolio Manager in various Leading Financial Institutions namely National Bank of Pakistan, Pak Brunei Investment Company, Pak Oman Investment Company and Alfalah GHP Investment Management Limited.
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