Technical Analysis of OAL on 9 Jan 2017

Technical Analysis of OAL on 9 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 an IPO that has bottomed around 19 in early Nov ’16 (from a High of 70). Its profit and EPS hints at some “slight” growth.

PE around 17.

Directors held only 26% share at EOY ’16.

	2013	2014	2015	2016
Profit	134	139	172	176
EPS - Diluted		1.19	1.37	1.40
Dividend			5%C + 7%B	12%B
NOCFPS			1.1	0.8

Fundamentally, it seems like an OK company. Nothing special.

But the Technicals suggest that something might be cooking. From weekly chart, we see that if it can break Resistance at 28, then we might see some fireworks.

It is for the bold risk takers – High Risk, High Gain.

Stop loss would be 24.4.

As the Index is nearing Supply Zone, be wary of opening new positions, especially at High Prices.

Let us see what happens . . .