DIB Technical OverviewPosted on Sunday, May 21 2017 at 5:01 am GMT+0000
Probable intraday double-bottom.
Having in mind the above trending characteristics, no long term positions are recommended at the time being and traders shall patiently wait for strong support confirmation before instating new longs. Although the extended correction reaching above 5.88 has weakened the structure of the downtrend, the recent move below 5.80 provided an early Daily top warning towards a return of Bearish pressure. While the medium term remains Bearish, short term traders shall monitor for the completion of a Bullish reversal above 5.83 that could confirm a shift in momentum to the upside. Failure of the share to remain above 5.72 could cancel any probable Bullish scenarios.