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.
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