Technical Analysis of BNICL on 17 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.
This is an analysis where I admit that Technical Analysis is not always sufficient (but there are Hundreds of Stocks - so a TA can choose those whose patterns work most of the time).
It is an IPO that has crossed a recent high in this crazy Bull Market - now, Sky is the Limit.
I am putting it up as it might offer opportunities for speculators and/or Fundamental Analysts who might be able to project the price of BNICL.
This is an analysis where I admit that Technical Analysis is not always sufficient (but there are Hundreds of Stocks - so a TA can choose those whose patterns work most of the time).
It is an IPO that has crossed a recent high in this crazy Bull Market - now, Sky is the Limit.
I am putting it up as it might offer opportunities for speculators and/or Fundamental Analysts who might be able to project the price of BNICL.
As it is an IPO, I do not have historical data. But its reported
quarterly profits are increasing. Probably it will give dividends soon and
thus, the speculation.
It is not moving as per Fibo retracements – still I will try to use
Fibo Extension for those who want to use it as a guide for trading. Today’s
candle without a wick at top would have been better.
It is a High-Risk move – but it is your call and your stop loss
(I would set it at 20).
Best wishes to The Risk takers . . .
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