JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- June 19, 2020 (PPI-OT)

KSE-100; Slide to continue with 33,259 in sight

Following its previous bearish formation (Engulfing Bear), the KSE-100 index posted a loss of 309 points to close at 33,540. Volumes stood at 216mn shares versus 341mn shares traded previously. The index is expected to continue the downtrend with 33,259 (50-DMA) and 32,119 as the downside targets. However, any upside will face resistance at the 30-DMA that stands at 34,028. The RSI and the MACD are heading down, supporting a negative view. JS Securities Limited recommends investors to 'Sell on Strength', keeping...