Technical Analysis of ICB: Part 2 on 27 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 3 Feb 2017: http://imti77az.blogspot.com/2017/02/updated-technical-analysis-of-icb-on-3.html
I had expected
it to come to around 140-145 and then move up.
Actually, it
came down to 153 and is now moving up.
In the Weekly
chart, it has broken out of a Symmetrical Triangle – there are no signs of a
re-test yet! Target pattern suggests around 250 in the long run . . .
It is for the risk-taker with Stop loss at 5% of entry price . .
.
*On a separate note, interestingly, Islami Bank has a similar pattern too - but yet to break out . . .
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