Wednesday, August 23, 2017

Technical Analysis of ACI: Part 3 on 23 Aug 2017


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

This was the previous analysis: https://imti77az.blogspot.com/2017/01/technical-analysis-of-aci-part-2-on-29.html

ACI retraced to around 450 and then consolidated between 500-530 from May onwards.

It broke out today. There might be a pull-back before it starts another bull move - interestingly next Resistance is at 600! SL @ 515

On a different note, ACI is sort of inversely related to the Index - that is NOT to say that it MUST happen this time - but if ACI makes a bullish move, will we see a correction in the Index?

No risk – no gain . . .





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