DIC Technical OverviewPosted on Monday, November 21 2016 at 5:29 am GMT+0000
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.