PETRONET

13 Nis

• The stock has been in a consolidation phase since year 2018.
  
• Currently, price has cleared its previous all time high of 299, suggesting resumption of the long term up-move.
  
• Price could initially be expected to test 375 (161.8% FR level), and optimistically the long term up-move could see 710.
  
• Bullish outlook remains intact as long as price is above 260.