Technical Analysis of BSRM Limited: Part 2 on 17 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 2 Jan 2017: http://imti77az.blogspot.com/2017/01/technical-analysis-of-bsrm-limited-on-2.html
I suggested that there could be a re-test around 130 before it
would move up.
Actually, it came down to 132 before moving up to 144.
After that, it has retraced on low volume to 130 again and then
we had a Bullish Engulfing Candle (albeit on low volume) yesterday.
Again it
could re-test 134-135 before making next move.
In the meantime, it has given 10% Interim Cash Dividend.
I would keep it in my watch list as we might get a bull run in
future . . .
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