DIB Technical Overview

DIB Technical Overview

Weak technical picture.

Even though the long term outlook is still Bullish, trend characteristics lost strength after the recent correction, stronger signs of supports are needed before any new market entry can materialize. While in the medium term have returned to Bearish, the recent break below 5.70 has significantly weakened the technical picture postponing by that any further Bullish scenarios for the time being. That drop below 5.70 has shifted focus towards 5.55 that might be acting as an immediate support. Below that point the share might target a retest of the 5.35 defined as the March-8th Low.