This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in Dhaka Stock Exchange.
IBN SINA is an OK pharma company.
After 25 Sep 2024 High of 384.8, it was in a downtrend. Then there has been approximately 8 months of accumulation.
Now there are 2 alternatives. Either it could break down.
Or else we could have a bullish move.
In the weekly chart, MACD is turning bullish with increasing volume - it implies a bullish possibility.
Moreover, the risk-reward ratio is favorable.
Last day closing was 313.4.
SL is 306.4 - that is Tk 7 loss.
Upside, it might go near 370~380 (Tk 60 gain).
Let us see what happens.
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