DSI Technical Overview

DSI Technical Overview

Probable change in the primary trend.

The share managed to post significant gains after finding support above the previous weekly bottom of 1.32. However and despite the recent rally, long term traders should remain on the sidelines and wait to see the market clearing the April 26 high of 2.13 before attempting to acquire new positions. In the short term, the recent break above 1.86 signaled the inception of a new Bullish stage. That breakout above what was considered to be a critical resistance paved the way for further gains in the direction of 1.95 that was reached and 2.10 in the forthcoming couple of days given the market conditions stay the same. Now that the market approached the 2.10 level, short term traders who grasped their opportunity and entered at 1.86, should trail their positions to 1.94 and patiently wait for their second targets at 2.10.