KSE-100_A Big black candle occurred ,(AKD Technical Daily May 10, 2022)
AKD Daily Technicals
KSE-100: A Big black candle occurred
- The index opened with a negative note and underwent a bearish session. The local bourse posted an intraday low of 1,608pts and concluded with a loss of 1,448pts to settle at 43,393pts level. The index is currently trading below major moving averages on daily chart. A closing below 50-SMA cements a bearish view. The volumes reflected in the last trading session were comparatively higher than the previous trading session. MACD is bearish since it is trading below its signal line. The MACD crossed below its signal line 4 sessions ago. The RSI has just reached its lowest value in the last 14 trading sessions.
- The chart formation depicts that the index may find initial support near 43,100. A break below mentioned support can result into further weakness towards 42,750 and 42,300pts level. Alternatively, the index can face resistance near 43,600pts initially and then head towards 44,000 and 44,400 area. It is recommended to trade with a cautious approach and use stop loss during intra day trading.
AKD Research
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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