We have a good investment opportunity in Kot Addu Power Company (KAPCO) which is a scrip of Power sector of Pakistan stock exchange (PSX). It has taken support from its 52 week low level of PKR 26.5 and has gained 7.49% in one day today. Below is the technical chart.
Chart Source: http://research.akdtrade.biz/advance-charting
As shown in the chart, the scrip has taken support from PKR 26.5 and has made a.good positive candle. MACD is below zero and histogram is also red but the trend seems to be reversing and RSI is also above 30 level and has just bounced back towards upside. My 1st and 2nd target prices will be PKR 35 and PKR 40 respectively and it can also cross PKR 45 price point value in long term as the company is profitable and also distributing dividends to its share holders.
Note that this is no financial advise and the purpose of this post is for information only. I am not asking for any kind of investment on my advise. Please take your financial advisor on board before any investment and I will not be responsible for any loss.
Thanks!