Technical Analysis of EBL: Part 2 on 23 March 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 the previous analysis done on 6 Feb 2017: http://imti77az.blogspot.com/2017/02/technical-analysis-of-ebl-on-6-feb-2017.html
Prediction: I was expecting it to reverse from
around 31 to 32.
Actually, EBL reversed from 32.1 and tested its
previous high at 36 (giving a decent profit) – and then created a Double Top!
I still like its Fundamentals but Technically, if its Supports
do not hold, it could fall to around 28.
A close below 32 could be "fatal" in the short term - Beware . . .
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