One of the main objectives of writing the articles on Technical Analysis of Stocks in Dhaka Stock Exchange was to evaluate whether it works or not in Bangladesh Stock Market - as many people say that the market is manipulated.
From my previous experience, I have seen that it works around two-thirds of the time. But this time, I plan to evaluate the ~100 analysis done from Nov '16 till End of March 2017.
Hopefully, by next three weeks I will be able to complete the evaluation and write an article on: "Does Technical Analysis Work? An Empirical Evaluation"
However, before taking a pause, I will try to take a look at the Index in general and try to guess what might happen next!
In the weekly chart, the last candle looks like a sort of doji - the market is undecided! Thus, the next two candles will show the next path - up or down.
However, technical indicators are hinting at a correction. The decrease in volume also is a sign of weakness.
That is not to say that all stocks will fall. Some are on bull moves, some are nearing reversals while some may fall - possibly like Islami Bank (which I earlier thought would give a third wave) which disappointed with its paltry dividend.
Take care and best wishes as always . . .
From my previous experience, I have seen that it works around two-thirds of the time. But this time, I plan to evaluate the ~100 analysis done from Nov '16 till End of March 2017.
Hopefully, by next three weeks I will be able to complete the evaluation and write an article on: "Does Technical Analysis Work? An Empirical Evaluation"
However, before taking a pause, I will try to take a look at the Index in general and try to guess what might happen next!
In the weekly chart, the last candle looks like a sort of doji - the market is undecided! Thus, the next two candles will show the next path - up or down.
However, technical indicators are hinting at a correction. The decrease in volume also is a sign of weakness.
That is not to say that all stocks will fall. Some are on bull moves, some are nearing reversals while some may fall - possibly like Islami Bank (which I earlier thought would give a third wave) which disappointed with its paltry dividend.
Take care and best wishes as always . . .
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