DIC Technical Overview

DIC Technical Overview

Testing weekly top.

In the long term, the share rose above the 2.50 weekly top completing a Bullish reversal and then retreated. Hence long term traders shall be cautious and wait to see a strong support confirmation before they can trust again the prevailing Bullish bias. A direct break above the 2.63 previous weekly top could carry larger Bullish implication and signal for extended rally targeting the 2.84 and 3.15 levels. In the short term, the share exited the overbought territory, and therefore, a decisive break above 2.57 could confirm the resumption of the near-term uptrend allowing for renewed long positions.