DIC Technical Overview

DIC Technical Overview

New Bullish stage.

Finally we witnessed some significant Bullish developments that pushed the share above 2.55 long term resistance. After almost 10 months of consolidation between 2.00 and 2.55 with a clear absence of any direction, DIC broke out of that range smoothing the path for further gains and initiating a new Bullish trend. Long term traders who were out of the market where now presented the opportunity to activate new positions where they will aim to target the 2.71 and 2.95 levels. While short term traders who had their second targets reached at 2.63 should wait for a retracement to reposition their longs at lower levels, or alternatively can benefit from any immediate break above 2.65.