This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in Dhaka Stock Exchange.
Usually it moves from 19-20 to 25-26 - giving ~25% return in a year.
Allocating 5% of equity for Uttara Bank might be a reasonable option.
Considering previous data and trend, assuming it was bought at Floor during Covid, without dividend re-investment, the holders could enjoy:
This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in Dhaka Stock Exchange.
Sonargaon Textiles Limited is a low paid-up company with inconsistent earnings. Nothing fundamental about it.
It reported some profit in Q3!
Technically after a rally in early May, it has been undergoing consolidation and formed a sort of triangle - which looks like Wave B. Thus, we could expect an up-move (Wave C) in the coming days.
There was a break-out on 8 July, after which there might be a re-test (but not necessary). Usually moves out of triangle are rapid. Thus, expected price target 33-36 might be reached by end of July 24.
Let's what happens.
SL 26.
The profit trend of NBFI's in Bangladesh is downwards. It implies this sector is in trouble with many Zombie companies.
Excessive competition and scams in some companies have severely affected the sector.
However, a couple of companies stock price has been battered - they might at least double in price by 2027!
