Can DBM reach $9 range?I'm not a technical analyst, but have been observing this stock for a while.
It dipped after dividend payout as expected by speculators, but quickly recovered to the pattern.
Meanwhile, waiting for it to escape the flag so it goes up (hopefully).
Please let me know how you feel.
DBM trade ideas
DBM is a buy under $6TSX:DBM pays a quarterly dividend of 0.14, which is 9.3% yield.
It has fallen back to its September 2021 low, after retracing 50% of its bearish leg.
It has heavy support (14 weeks worth) at $5.81
Could it fall further than that? Sure, anything can happen.
But I think it is unlikely in the next week, as the ex-dividend date is the end of this week.
Perhaps the dividend will be the catalyst to push it lower.
I will probably accumulate a position if I can get it sub-$6 on Monday or Tuesday.
AnalysisHere we will have a big probability of an uptrend after the breakout with force the resistance line by a big green candle with a large green volume. So, in other hand we can have a downtrend if the support line and also the vwap indicator are broken with force by a big red candle with a large red volume.Thanks.