DIB Technical Overview

DIB Technical Overview

Near-term consolidation.

The share continues to have a neutral outlook at the time being with clear levels defining a short term consolidation as the market prepares for the next directional move. While in the medium term the 5.70 support gains significance as the level hat is containing any further Bearish pressure in the past two months. Any further break below it would cancel any probable Bullish scenarios and accelerate the declines. In the short term a break in either direction of the range will lead the next medium term movement. Only an immediate break above the 5.84 would confirm the strength of a further rally, smoothing the path for a retest of the previous daily high at 5.95.