DIB Technical OverviewPosted on Tuesday, December 20 2016 at 5:18 am GMT+0000
The formation of a weekly bottom above 5.00, followed by the break above the 5.65 confirmed a change in the long term outlook signaling extended moves targeting at least the key level at 6.00. Moving to the medium term, an immediate break above the 5.75 hurdle could increase the likelihood that the last decline was just a corrective phase and that the prevailing uptrend could be resuming. Short term traders should monitor for signs of support above the 5.50, where an immediate break above 5.65 will allow for renewed positions. Failure of the share to remain above the 5.50 level will accelerate the declines to lower levels.