DIB Technical Overview

DIB Technical Overview

Accelerated pressure above 6.20.

The long term remain positively aligned ever since the break above 5.63 on December 2016, and after finding support above 5.00, the share bounced higher and is now approaching from the previous 52-weeks high. Having in mind the significance of that level, traders shall wait to see a clear break above 6.35 before ruling out any probable slowdown in momentum. Such move would strengthen the long term Bullish outlook and confirm the current wave opening the way for further gains. At the narrower side, Bullish pressure is expected to accelerate above the 6.20 medium term resistance, raising confidence for a further rally targeting 6.35 and 6.60. Only an immediate sharp drop below 5.95 could change the medium term outlook to a more Bearish one.