Technical Analysis of Padma Oil on 24 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 2014 onward. EPS ~
20.
2014
|
2015
|
2016
|
1H '17
|
|
Profit
|
2,123
|
1,928
|
1,873
|
1,074
|
EPS
|
21.62
|
19.63
|
19.07
|
10.94
|
Dividend
|
100%C
|
100%C
|
100%C
|
|
NOCFPS
|
39.0
|
-88.0
|
82.0
|
Now to the Technicals: I am a bit late with the analysis. But
with a Bullish market, 350, 375 even 400+ could be possible in the long run. If
you have taken an early position Great. Else it is for the risk-takers (if one can get it on a down day) with Stop
Loss at 240.
Best wishes . . . Weekly chart given below:
Best wishes . . . Weekly chart given below:
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