Technical Analysis of Jamuna Oil on 28 Feb 2017
This is no buy/sell recommendation - just a trial to see if
Technical Analysis (works to an extent) in Dhaka Stock Exchange.
All the Oils seem to be on a bullish move. In 2016 market priced
them below 10 PE. After bottoming in Q1 ’16, they were on the rise slowly. From
the beginning of 2017, it seems all are on a bullish move.
Fundamentals: I have always been a fan of the oils mainly due to
their dividends. Annual Profit is steady around Tk 2 Bn from 2012 onward. EPS >
20.
Interestingly, PE still < 9.
2015
|
2016
|
1H '17
|
|
Profit
|
2,253
|
1,959
|
1,375
|
EPS
|
20.48
|
17.74
|
12.46
|
Dividend
|
100%C
|
100%C
|
|
NOCFPS
|
67.0
|
152.0
|
Now to the Technicals: It is trying to break a major Resistance ~220.
Next Supply zones are around 240, 260, 280 and 330.
The way it is shaping up, a
long position could be taken (if already not taken). Hope it will give another
buy opportunity ~205 before going up. It is for the risk-takers with Stop Loss at
198.
Best wishes . . . Weekly chart given below:
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