DIC Technical OverviewPosted on Thursday, February 9 2017 at 5:44 am GMT+0000
Larger Bullish implications above 2.64.
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 clear break above the 2.64 before they can trust again the prevailing Bullish bias. At the same time, medium term traders shall treat the last downside extension as a corrective phase that might act as a provider for renewed buying opportunities, where a direct break above the 2.64 daily top could carry on larger Bullish implications targeting 2.75 and 2.91. Failure of the share to remain above the 2.43 level will cancel any further Bullish scenarios and accelerate the decline to lower level.