DIC Technical Overview

DIC Technical Overview

Double bottom validation.

The recent breakout above the 2.07 was the move that restored the medium term positive picture for the first time since Mid-September, raising confidence for an extended move targeting 2.15. With market loosing strength before reaching initial targets, traders shall trail their Stop orders higher. For short term traders long above the 2.07, initial targets had been reached at 2.13, allowing for partial profit taking. Failure of the share to remain above the 2.07 will trigger an exit for both medium and short term positions, as the market will be searching deeper for a support.