Technical Analysis of Cotton (Week 16)

Analysis done based on data till 23 June 2017

This week there was a discrepancy between http://stockcharts.com Cotton charts and https://www.investing.com/commodities/us-cotton-no.2-candlestick.

However, as I have been using stockcharts.com Cotton charts, I will continue with that.

It seems Cotton's bull-run from Feb '16 low of 54+ to Peak of 87 on 15 May '17 is over . . .

Cotton just got some form of support at 66+ - which is also 62% Fibo of the above run.

The expected technical bounce did not happen this week . . .

However, indicators are hinting at a pause of this fall:

• RSI oversold
• Slow Stochastic forming a double bottom
• MACD has taken a beating

Will bears pounce on the bounce?

We might know in a couple of weeks . .  .

Technical Analysis of BD THAI: Part 4 on 20 June 2017

Technical Analysis of BD THAI: Part 4 on 20 June 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 10 March 2017: http://imti77az.blogspot.com/2017/03/technical-analysis-of-bd-thai-part-3-on.html

Forecast: Re-test 32 before going upwards

Actual: Failed – went down to 26

It bounced from 26 Support and broke a down-trend-line and is again moving upwards. A buy around 27 expecting at least 32 with SL at 26.5 could be “chanced”.

Technical Analysis of Aman Feed: Part 2 on 17 June 2017

Technical Analysis of Aman Feed: Part 2 on 17 June 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 of Aman done on 19 Feb 2017: http://imti77az.blogspot.com/2017/02/technical-analysis-of-aman-feed-on-19.html

It Failed – as it could not break out of 90

Then Aman retraced from 89.8 to around 70+ and then broke a down trend line recently. A green candle on High Volume could start a bull move . .  . keep watching . . . 

Technical Analysis of Cotton (Week 15)

Analysis done based on data till 16 June 2017

Cotton failed to get support and kept on dropping!

However, indicators are hinting at a technical bounce - bears may sell on the bounce . . .

• Doji candlestick hinting at indecision
• RSI oversold
• Slow Stochastic forming a double bottom (sort of)
• Only MACD looking bad

~71 provided some support . . . 

Let us see what happens in a week . . . 

Technical Analysis of Summit Power: Part 2 on 15 June 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 25 Nov 2016: http://imti77az.blogspot.com/2016/11/technical-analysis-of-summit-power-on.html

Forecast: Buy on the pull-back around 35 and expect 40-42.

Actual: It reversed from 35.1 and went up to 46+

It gave more than expected and then retraced.

After coming to a Low of 36.5, Summit broke upwards with volume. After pull-back (and re-test), it is "probably" getting ready for next move. We could expect another run from ~40 to 45-46 level at least (with SL @ 39.40)

A wedge pattern in longer time frame gives a target ~53 – it would be justified if Summit’s Q4 profit is ~BDT 800 Mn – then Annual EPS would be ~ 3.5 & 15 PE valuation would be ~53!

Safer to wait for a green candle . . . No risk no gain . . . 

Technical Analysis of Beacon Pharma on 13 June 2017

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

PE > 60!

It has broken a down-trend line. I was expecting a re-test (which hasn't occurred yet).

Pattern target is ~26.5 (with SL @ 21.90) for the risk-takers . . . 

DSEX Index: Something's gotta give

At Close of Today - 12 June 2017 - the Index is nicely poised . . .

Volume has dried up . . . Minute chart shows support at 5445 . . . 

It looks critical - something has to happen - either an up or down move!!!

I am expecting bullish moves in some shares in the Power Sector . . . 

Let us see what happens . . . 

Technical Analysis of Cotton - Trial (Week 14)

Analysis done based on data till 09 June 2017

Cotton still trying to find support - 76 failed but it near a critical diagonal support above 75.

Another support is the 200 SMA ~73+

Let us see what happens in a week . . . 

Technical Analysis of Cotton - Trial (Week 13)

Analysis done based on data till 02 June 2017

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

Some Support zones are 76, diagonal support above 75 and 200 SMA ~73+

However, the indicators are not looking good. It needs to find support soon.

Hope to do next analysis in a week.