Technical Analysis of ACI on 3 Jan 2017

Technical Analysis of ACI on 3 Jan 2017 (after trading hours)

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

Fundamental Analysis: It is a very good company with growth prospects. Dividends also increasing. There was “unusual” profit in 2015 due to sales of few business units. It has also changed its reporting month in 2016.

	2013	2014	2015	1H '16
Dividend	85% C + 20%B	100% C + 15%B	115% C + 10%B	75%C (I)
Profit	204	574	2,828	375
EPS	7.29	16.87	72.33	9.60

Now to the Technicals:

Weekly chart is not completely bullish yet – but it looks like a reversal – would be able to confirm in a few days.

Daily Chart looks good: It seems to be reversing on High Volume. It could retrace to around 396-401 on low volume before making next bullish move.

I could not provide a chart as an aberrant candle on 28 April ’16 distorts my charts.

Stop loss would be 383.

I would wait for confirmation in weekly and successful re-test in daily.

Let us see what happens . . .