Technical Analysis of Envoy Textiles on 8 March 2017
This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in Dhaka Stock Exchange.
From a High of 70 on its IPO debut in late 2012, Envoy Tex bottomed at 32 in mid-16. Its profit is fluctuating but it has maintained at least 12% Cash Dividend and also gives some Bonus Shares. There is an expansion story - however, it is not yet reflected in profit as last two quarters of 2016 reported low profits.
2012
|
2013
|
2014
|
2015
|
2016
|
|
Profit
|
424
|
435
|
311
|
571
|
404
|
EPS
|
3.26
|
3.19
|
2.21
|
3.94
|
2.65
|
NOCFPS
|
9.00
|
1.50
|
2.00
|
1.00
|
|
Dividend
|
15%C
|
17%C
|
12%C
|
17%C
|
12%C
|
5%B
|
3%B
|
3%B
|
5%B
|
5%B
|
Now to the Technicals: Recently it has been making some sudden moves although the volume is inconsistent. Candles are quite volatile too.
It has support at 34 and 36 (which is a good entry price). Recently it has made another small bullish run - and it may offer a buy at retracement ~39-40. Stop loss would be 37.4.
Let us see what happens . . .
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