PSX STOCKS TECHNICAL ANALYSIS
INIL (International Industries Limited)
- Last Close: 182.44
- Stance: Bullish
Technical Levels:
- Support Levels: S1: 179.00, S2: 176.50
- Pivot Point: 183.55
- Resistance Levels: R1: 188.17, R2: 193.89, R3: 198.51
- Stop Loss: 174.00
Fundamental View: INIL specializes in manufacturing metal and PVC pipes, crucial for water and energy infrastructure, which makes up 42-45% of their revenue. Despite a YoY earnings decline of 6% in 9MFY24 due to slower construction activity, higher finance costs, and decreased demand, the outlook remains positive. The expected rebound in cyclical demand, driven by potential rate cuts and inflation tapering off, suggests a promising future for INIL.
ISL (International Steels Limited)
- Last Close: 84.14
- Stance: Bullish
Technical Levels:
- Support Levels: S1: 82.00, S2: 80.30
- Pivot Point: 83.78
- Resistance Levels: R1: 85.56, R2: 86.98, R3: 88.76
- Stop Loss: 79.00
Fundamental View: ISL is Pakistan’s leading producer and exporter of flat steel, with significant capacity expansions. The company reported a substantial EPS increase of 94% YoY in 9MFY24, attributed to reduced borrowing costs. This financial stability and production capacity enhance ISL’s competitive position in the steel sector.
GAL (Ghandhara Automobiles Limited)
- Last Close: 190.80
- Stance: Bullish
Technical Levels:
- Support Levels: S1: 185.00, S2: 181.00
- Pivot Point: 189.26
- Resistance Levels: R1: 195.98, R2: 201.17, R3: 207.89
- Stop Loss: 178.00
Fundamental View: GAL engages in assembling and selling commercial vehicles and Chery SUVs. The company showed a significant earnings increase to PkR2.8/sh in 3QFY24 from PkR0.1/sh in the previous quarter. With plans to introduce HEV variants and expected growth in commercial vehicle sales due to axle load regulations, GAL’s outlook is positive.
MLCF (Maple Leaf Cement Factory)
- Last Close: 39.89
- Stance: Bullish
Technical Levels:
- Support Levels: S1: 39.40, S2: 38.70
- Pivot Point: 40.13
- Resistance Levels: R1: 40.73, R2: 41.58, R3: 42.18
- Stop Loss: 38.30
Fundamental View: MLCF trades at a favorable valuation with an EV/Ton of US$24 and reported healthy margins of 30% in 9MFY24 due to fuel and power efficiencies. The decline in local and Afghan coal prices is expected to support future gross margins, indicating strong growth potential.
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