DFM : DIB - Trade Plan - Good Bounce at Fibonacci RetracementGood Day, Traders!
The Stock DIB at #DFM bounced twice from Golden Ratio of Fibonacci Retracement after providing dividend. This makes the golden ratio a respectable support. The stock is expected to rise from here with few corrections. We may have a profit taking opportunity. Good volumes further enforces this idea. The trade maybe taken now if not taken earlier. Below is a trade plan:
Trade Plan:
Buy: 7.00
Stop Loss: 6.42
Take Profits: 7.68 & 7.92
Happy Trading!
DIB trade ideas
DIB: Buy ideaOn DIB we have a very high probability of having an upward trend given the configuration of the chart. We can observe small candles with small bodies and long wicks. In addition to this we are also above the vwap indicator. Which reassures us in our purchasing position.
However, we must be vigilant. If the vwap indicator is broken forcefully by a large red candle and accompanied by a large red volume, this means that we would have a high probability of having a reversal in the trend.Thanks!
Trying HardDIB has made a attempt to break 6.00 but it could not and now its trying for the second time. I would like to see it spending days near this zone so that we can see a build up of contraction of volatility and then let it explode it to the upside. Support area at 5.40 in case if it wants to come down for a retest.
Hit like & follow guys ;)
Good SetupThis stock is very stock fundamentally and now we are seeing good technicals on this chart. We are seeing good buying pressure at very important support and resistance zone. I think the rally will continue to the upside and it will hit the targets. This stock also give good dividends, good for long term holding.
Hit like & follow guys ;)
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Wait for a CatchA very good stock for long term with very strong fundamentals also with interest rates going up banks will benefit a lot. After the dividends its gapped down and it didnt fill up the gap yet slowly i think it will fill up the gap. As of now important support zones are 5.80 and 5.60 respectively. If it comes at 5.60 I think it will be a very good buy.
Hit like & follow guys ;)
Still Looks GoodVery good stock with strong fundamentals, technically its not looking good for a entry. If you want to catch this with a momentum then wait for a breakout. For now its in a NO trading zone. You cannot buy all the stocks at any time wait for a good setup to trade and buy.
Hit like & follow guys ;)
Reversal Or Deep CorrectionBanking sector was performing good but currently under pressure. Well there are scenarios as DIB is right at the strong support level if 4.90 hold we can expect a rebound for that to happen it should first break the trendline to give us some confirmation. If the support is broken that is around 4.90 we can see some sharp selling till 4.75 levels. As of now its in a no trading zone better stay away from it till we can some bullish confirmatin.
Hit like & follow to show your support ;)
Dubai Islamic Bank DIBThe stock has been moving in a clear direction since last year, which is the ascending channel, the points are clear in the chart. The support area at 4.70 is a very stubborn area as it represents the lower trend line, and we should pay attention to it so that if a full candle closes below it, it means a severe drop, but except Therefore, the stock is likely to rise to the drawn point 5.20.
have a good day
Always GoodIts one of the best stock in dubai stock market with strong fundamentals and strong technicals its in a uptrend as of now it back at the support area after hitting the resistance. We are seeing doji candles right at the support area it means selling pressure is very less and it can again bounce back to the upside. Very Bullish!!
Hit like & follow guys ;)