D&O should be scaling new heights (TA perspective) [UPDATED]



D&O has completed its 2 week consolidation and was strongly supported by its EMA42 (Red) line. For the past week, its price remained elevated above the EMA18(Green) line and was able to come to a strong weekly close at the high of 4.25.

This strongly suggests a continuation of the bullish momentum in the coming week.

Important indicators (Daily):
MACD – Converging, and a Golden Cross may materialise. (Buy signal)
RSI – Remains elevated but below 80. Suggests strong buying momentum with low concerns of overbuying. (Buy signal)
EMA – Price closed above both short term(18) and mid term(42) EMA lines. (Buy signal)

Important price levels: Resistances – R1 = 4.60 Supports – S1 = 4.25, S2 = 4.00, S3 = 3.80, S4 = 3.60

Uptrend channel boundaries should also be carefully considered as supports/resistances

Potential movement next week, ceterus paribus: A test of the resistance for a potential breakout.

A retest of support range 4.15 – 4.25 if breakout fails.

A sustained break above 4.60 followed by a MACD Golden Cross should attract strong demand for the stock, allowing it to scale new heights.
Conversely, a slide below S2 = 4.00 should raise concerns and any buying decisions should be held off until a clearer signal surfaces.

This is not a buy/sell call. The final decision is always yours.


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