Technical Analysis of Islami Bank on 2 Jan 2017

Technical Analysis of Islami Bank on 2 Jan 2017 (after trading hours)

This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in Dhaka Stock Exchange.

Fundamental Analysis: Islami Bank is one of the largest companies in Bangladesh. It is a good company with Huge Profits, good EPS and gives good Cash Dividends. Recent quarterly performances hint that it might start growing once more . . . and reclaim its glory days – although it is not easy for any big company to turn around and be agile.

	2012	2013	2014	2015	Till Q3 '16
Profit	5,617	5,055	3,961	3,156	4,202
EPS	4.49	3.45	2.46	1.96	2.61
Dividend	8%C + 17%B	8%C + 10%B	15%C	20%C
NOCFPS	16	23	31	9

Now to the Technicals: It seems to be breaking out of a “triangle”. A re-test around 29.6 would be welcome but not necessary.

Stop loss would be 29.

Let us see how far it goes – 35 initially, then?

However, a break of Support could see a heavy fall as can be seen in the charts - No Risk, No Gain!!!

Let us see what happens . . .