Technical Analysis of Cotton - Trial (Week 12)

Analysis done based on data till 26 May 2017

Bears still in selling mode. Once they stop selling, Cotton could get some support.

I am expecting that Cotton will consolidate in this area for a few days before making next move.

Hope to do next analysis in a week.

Technical Analysis of Cotton - Trial (Week 11)

Analysis done based on data till 19 May 2017

Bulls got excited and took Cotton up to ~87.

Then profit taking and increased supply beat them down to ~79.50 (which is a Support zone - as was mentioned in earlier posts).

Now let us see what happens - most probably Cotton will consolidate in this area for a few days before making next move.

Hope to do next analysis in a week.

Cotton Bulls broke 79.50 with Huge Volume: Trial (Week 10)

Technical Analysis of Cotton: 13 May 2017

Analysis done based on data till 12 May 2017

At last, Cotton Bulls broke Resistance @79.50 with Huge Volume (I have been waiting for it to happen quite a while)

Now 79.50 will act as a support - and there might be a re-test before Cotton heads towards ~84.

It's bad news for Bangladeshi Cotton importers as they are currently the largest Cotton-importing country in recent months (Source: USDA).

Hope to do next analysis in a week.

Technical Analysis of MJLBD: Part 2 on 6 May 2017

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

Fundamentally MJL is a good growth company.

First let me evaluate the previous analysis done on 27 March 2017: http://imti77az.blogspot.com/2017/03/technical-analysis-of-mjlbd-on-27-march.html

Forecast: I expected price to come down to ~104.

Actual: MJL reversed from 108.

Although it didn’t come down fully to expected price, this is a positive sign in itself.

Furthermore, the chart has other signs of bullishness: breaking a downtrend line and re-test complete; double bottom reversal with divergence and a gap.

It might give another opportunity to add ~115 with Stop Loss at 111.

I will be surprised if it does not go to at least 130 . . .

One major risk is if GOB reduces price of LPG.

Cotton Bulls facing Strong Resistance ~79.50 Trial (Week 9)

Technical Analysis of Cotton: 6 May 2017

Analysis done based on data till 5 May 2017

Cotton Bulls facing Strong Resistance ~79.50

Last day fall on high volume is a bearish sign.

Bulls have to wait till supply subsides. 

Hope to do next analysis in a week.