PRL – Pakistan Refinery Limited | Technical Analysis

PRL remains within a broader bullish price structure following a strong upward move. After registering strength near the recent highs, the stock developed a divergence and subsequently retraced toward the 0.382 Fibonacci retracement level.

Key Levels

Entry Zone: 87.00 – 87.52
Support / Risk Level: 71.50
Upside Level: 106.50

Technical Structure

The current setup is based on the combination of:

• Strong preceding bullish trend
• Divergence developing around the highs
• Retracement toward the 0.382 Fibonacci level
• Price reaction around the 87.00–87.52 zone
• 106.50 as the projected upside level

The structure remains constructive while the defined support/risk level holds. A sustained reaction from the Fibonacci retracement area would provide additional confirmation of the continuation structure.

This analysis is based on technical price action and Fibonacci levels and is intended for educational purposes.

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →