$PRL Pakistan Refinery Limited (PRL): Engulfing Bull on weekly chart – By JS Research
$PRL
Pakistan Refinery Limited
Rs. 49.19
+0.29%
- PRL is picking up momentum as the interim resistance lies within 38-39 range where a break above that will confirm the start of a bullish move. An Engulfing Bull has occurred on weekly chart with the MACD Buy signal. Also, the PRL is trading above key averages keeping the trend bullish. The short term target is expected at 45.7 which may later rise to 52.5 which is defined as the medium term target for PRL. The said levels will provide a return of 21% and 39% from the current close. The short term risk is defined below 33.8 (200-DMA), while a fall below 30.1 will invalidate the above view.