Sunday, July 9, 2017

Technical Analysis of Fuwang Foods on 9 July 2017


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

Fundamentally, there is no reason for Fuwang’s bullish move – 50% return in ~4 weeks – no annual profit growth in a company where Directors own <5% of shares with PE ~ 35+

Technically, today was a reversal candle. The huge volume in last few days suggests that there might be further moves after some retracement on declining volume in the coming days.

For the risk-takers, watch out for reversal signs, if any . .  .



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