This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in Dhaka Stock Exchange.
Delta Life had an eight-month rally (from April to November 2021) after which it is under-going correction.
The next leg of correction can only occur IF Floor price is removed.
This analysis is IN-valid if its price crosses 175 in future.
This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in Dhaka Stock Exchange.
Its earnings are OK - but DEBT is the challenge.
If we assume that current move is Wave 4, then in future an up move (Wave 5) possible given that it does not close below 82. A close below 82 would make this analysis invalid.
First it needs to stop falling and then consolidate above 82+ . . . So let us watch to see future price action . . .
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 GQ - it has been in losses over the last 5 years . . .
There was a rally early from Oct to Early December (2023) after which it is under-going correction.
It looks like a FLAG formation.
A break-out from the flag might instigate a bullish move (we have to add the pole distance to get a rough target).
Break-down below 141 might not be good (Stop Loss point).
We could watch in coming weeks what happens?
