Technical Analysis of Sonargaon Textiles

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

Sonargaon Textiles Limited is a low paid-up company with inconsistent earnings. Nothing fundamental about it.

It reported some profit in Q3!

Technically after a rally in early May, it has been undergoing consolidation and formed a sort of triangle - which looks like Wave B. Thus, we could expect an up-move (Wave C) in the coming days.

There was a break-out on 8 July, after which there might be a re-test (but not necessary). Usually moves out of triangle are rapid. Thus, expected price target 33-36 might be reached by end of July 24.

Let's what happens.

SL 26.

NBFI Sector on the wane in Bangladesh

The profit trend of NBFI's in Bangladesh is downwards. It implies this sector is in trouble with many Zombie companies.

Excessive competition and scams in some companies have severely affected the sector. 

• Many are facing liquidity challenges.
• Dividend-paying capability will be limited.
• With declining margins and profits, survival is a challenge.

However, a couple of companies stock price has been battered - they might at least double in price by 2027!

 

Technical Analysis of FEKDIL

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

After Q3 Earnings surprise, FEKDIL had a rally from late April to mid-May, after which it is under-going correction.

There is a possibility of another rally - let's watch.

SL is 17.

Technical Analysis of Malek Spinning Mills Ltd

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

Considering the rally from 24 Jan 2024, it might be a 5 wave up move.

It seems we are in Wave 5 - which might be an extension.

This is hypothetical - need to see what REALLY happens!

Technical Analysis of Agni Systems Limited

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

Considering the rally from 21 Jan 2024, it might be a 5 wave up move.

Wave 3 seems like an extension.

Assuming, we are now in wave iv (Thursday, 8 Feb 2024).

Expectation is an up-move on 11or 12 Feb onwards to complete v of 3.

Then Wave 4 down and then another up-move to complete Wave 5.

This is hypothetical - need to see what REALLY happens!