Technical Analysis of Olympic Industries Limited

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

Olympic had a six-month rally (from Nov 22 to April 23) from 113.5 to 180.

After that we saw a correction to 141 - calling it Wave A.

Then we had a weaker rally on low volume to ~163 - Wave B.

Thus, Wave C pending. It could be from .62A (~139) to 1.62A (~100).

There is Support around 138~140 - we may watch if this holds. But if 138 is broken in future, then assuming A=C, the down move could take price to ~124.

We could expect a rally after that.

Warning: Worst case might be near 100. Hope it does not break 100 - then would have to re-do the analysis (for a bearish scenario). 

 

 

Technical Analysis of MONNOAGML

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

MONNOAGML had a bullish rally from mid-22 to 2023. After that it is under-going correction.

There are two possibilities. 

Bullish: The fall from 949 High of 29 Oct 2023 could possibly be the last lag of the correction. Once this is over, then we could get another bullish move (after some consolidation) in future.

Bearish: The 5-wave sequence from 1183 (on 14 June 2023) to ~702 fell about 481 points. This might be Wave 1. Then the subsequent correction to 949 could be Wave 2. We need to watch the next price movements - to determine if it is Wave 3? If price falls below 468 (which seems unlikely at the moment), then there could be trouble.

Technical Analysis of Index Agro Industries Limited

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

After its IPO debut in April 2021, it had a bullish move from 55+ to 148 (Aug 2021).

From then on, it is under-going (FLAT) correction. 

62 Fibo = 91

Support ~ 95

Floor@Block = 93.2

Theoretically, after its correction is over, we will possibly get another rally. So we could watch once it starts trading.

Technical Analysis of AL-HAJ Textiles Mills Limited

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

There is nothing much fundamental about Al-Haj.

Floor = 132.10

There was a rally early in the year (2023) and then it is under-going (FLAT) correction.

It seems this phase of correction is nearing its end (few more days probably) - it has some space to fall further and even get stuck at floor.

But we could watch in coming weeks whether it produces another rally or not?

Technical Analysis of EGEN - eGeneration Ltd - an IT Company

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

eGen started trading on 23 Feb 2021.

It had a stellar run from 15 to ~70.

After that, it has been undergoing correction (FLAT).

Taking C=A, the down target is 40.5 (Floor at Block Market is 40.6).

62 Fibo is ~36.

Currently, it is stuck at Floor = 45.2.

Nothing urgent, but we could watch when it starts trading as there is future possibility of another UP-move.

 

Technical Analysis of Cotton

 Technical Analysis of Cotton Week 43

23 Oct 2023

Cotton No 2 Futures @ ICEUS

Monthly Chart

It seems Cotton will likely break the triangle and move downwards.

Expecting a down move ~.50

Considering the triangle as a Flag, there might be more downside.