(Updated) Technical Analysis of ICB on 3 Feb 2017

(Updated) Technical Analysis of ICB on 3 Feb 2017

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

I will try to update the Analysis of ICB made on 13 Jan 2017: http://imti77az.blogspot.com/2017/01/technical-analysis-of-icb-on-13-jan-2017.html

As ICB created a Higher High of 188.3 after my previous analysis (where I had assumed that the High was at 166), that analysis is invalid – although the general idea still remains the same.

It crossed two year high around 145. Now, if it can stay above 140’s, there could be significant up potential. Now, if it retraces to around 140 to 145 (on low volume) and then makes an up move, we could see another bullish move in ICB.

*(Note: TA is not a Science; it works 60-70% of the time so don’t be hooked on to the exact numbers – please allow some flexibility).

Stop loss would be 130 assuming buy at 140+

Let us see if it behaves Technically . . .