Trade analysis by : Asad ul islam, Macc, Equity & Investment Analyst , Amarstock.com
Recently we got into paramount textiles limited,a reputed textile company listed in dhaka stock exchange , Bangladesh. Paramount or PTL or PARA ( investing.com) is in a good uptrend since last 2 years. Noticing the triangle pattern we took an initial entry at taka 44 and 47 after the breakout. Some profit was booked around taka 55 and currently waiting with a trailing stoploss set around 51 taka.
Notice how the volume was increasing when a breakout was due.
Indicators like RSI and ATR gave confirmation of the price action upwards too.
I would summarize me and my goals very simply “equity trading” . I have been an active trader in the equity market since the year 2006 and has been working full time as an analyst at amarstock ltd since inception after getting my Msc in accounting degree from Minnesota State University. Although amarstock is a startup me and my team love it as only passion and dreams should be loved. One thing i miss in dhaka stock exchange is the lack of short side play. I wish to trade in a market where shorting is an option. …Looking forward to get my CFA & CMT exams done with.
PTL forming Pennant pattern. Confirmation tomorrow. Target 12tk from here.