Technical Analysis of Bengalwtl on 7 Feb 2017
This is no buy/sell recommendation - just a trial to see if
Technical Analysis (works to an extent) in Dhaka Stock Exchange.
First let me evaluate Bengalwtl’s previous analysis done on 16
Dec 2016: http://imti77az.blogspot.com/2016/12/technical-analysis-of-bengalwtl-part.html
Initial buy was suggested around 42
with target around 50-55. Bengalwtl rose to High of 53.9 and then started
declining. If one had entered around 43, the return would have been >20% in
quick time.
Now it is declining. Its Historical
Low is 37.7 and 40 is also a support.
It could be a Contrarian Buy on a
reversal candle (as RSI is moving into oversold area). Stop Loss would be 37.5
Or a safer approach would be to evaluate
entry after Q3 result – but not for us Technically-biased . . .
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