Technical Analysis of SIMTEX: Part 2 on 18 March 2017
This is no buy/sell recommendation - just a trial to see if
Technical Analysis (works to an extent) in Dhaka Stock Exchange.
First let me evaluate the previous analysis done on 14 Jan ’17: http://imti77az.blogspot.com/2017/01/technical-analysis-of-simtex-on-14-jan.html
I would say that the analysis is invalid (and not wrong as the
idea is still the same) in that Simtex created a Higher High and then retraced
to 25 before consolidating.
Interestingly, the weekly chart looks like a “Pennant” – break-out
complete. An up move could be expected soon.
Let us see what happens . . .
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