Technical Analysis of United Power on 2 Jan 2017: Part One

Technical Analysis of United Power on 2 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 the extension of the previous (incomplete) analysis: http://imti77az.blogspot.com/2016/12/technical-analysis-of-united-power-on.html

Fundamental Analysis: It is a good company with good Profits, EPS and gives good Cash Dividends. I have tried to show the numbers based on the change in reporting month.

	2013	2014	2015	1H '16
Profit	1,774	2,465	3,240	1,613
EPS	5.98	8.30	10.40	5.17
Dividend	35%C	30%C + 10%B	80%C	45%C
NOCFPS	7	9	9	7

Now to the Technicals: It has broken a “Descending Triangle”. Re test also complete on 29 Dec 2016 which was a good day to buy on fall around 141 as can be seen on the charts.

We could assume that the down trend is over. Let demand take over . . .

Now (the generous) market might again give an opportunity to enter around 144-145.

Stop loss would be 140.

Let us see what happens . . .