JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- May 24, 2019 (PPI-OT)

KSE-100 is expected to test resistance at the 30-DMA

Upward movement continued for the KSE-100 index as it closed at 35,581, up 944 points. Volumes stood at 228mn shares versus 204mn shares traded previously. The index is expected to test resistance at the 30-DMA standing at 35,736 where a break above will extend the gain towards 36,535, followed by 36,697 (50-DMA). However, any downside may find support in the range of 35,110-35,285. The RSI has improved and the MACD has generated a Buy signal, supporting a positive view. Investors are recommended to...