JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- December 05, 2018 (PPI-OT)

KSE-100; Short term rebound likely

The KSE-100 index closed the session higher at 39,603, up 442 points. Volumes stood at 196mn shares versus 164mn shares traded previously. Despite a positive closing, the index has formed a lower high and lower low that indicates that the trend is still negative. However, a short term rebound cannot be ruled out. A break above yesterday's high will target the 50-DMA at 40,156, followed by 40,849 (30-DMA). Meanwhile, a fall below 38,889 (yesterday's low) will continue the downtrend with 38,555 in sight. The RSI has improved, while the MACD is...