ATRL Double Top – Rally may be over

Attock Refinery Limited (ATRL) has enjoyed a great rally in the last 9 months and currently trades at Rs. 363.

The share has touched a peak of Rs. 380 twice in the last 4 months. Both times, it received a rejection with high volumes.

While working on the ATRL technical analysis and looking at the RSI, there is a clear bearish divergence at both daily and weekly timeframes. This would suggest that the trend may reverse or stay sideways for the coming days.