This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in Dhaka Stock Exchange.
Envoytex is a highly leveraged textile company in Bangladesh.
It is one of the rare good companies listed in textile sector!
It has been consolidating for around 1 year.
Recent high volume break-out implies that we could have a rally in the coming weeks. It only needs to break 55.5 level now.
It seems smart money is expecting good earnings and dividends and has taken position.
Thus, a rally till earnings declaration is likely and it might even reach 64-70 levels (2012 High).
SL 5 percent of buy price.
Let us see what happens.
No comments:
Post a Comment