Technical Analysis of BD Thai: Part 3 on 10 March 2017

Technical Analysis of BD Thai: Part 3 on 10 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 of BD Thai done on 19 Jan 2017: http://imti77az.blogspot.com/2017/01/technical-analysis-of-bd-thai-on-19-jan.html

Retracement was predicted to stop around 24-26. Actually, BD Thai bounced from 26 and then broke Major Resistance of 32 with Strong Volume. Now it might re-test 32 before continuing its flight.

Fibo Extension is shown in the chart below – these are Areas of Resistances/Support and also probable future price targets.

Those of us who took an earlier position – we could sit back and watch. If you are brave enough to enter now – Stop Loss could be 29

Swadika . . .