Stock: DITO
Company: DITO CME Holdings Corp.
Support: 12.00 / 11.40
Resistance: 14.80 / 16.00


DITO is still on a winning streak, but its firepower is visibly starting to weaken. After how many days of significant breakouts, yesterday marked DITO’s first red candlestick — a sign for a possible reversal or pullback.

Indicators all point to one thing: DITO is already heavily overbought. If this narrative is to be followed, profit-taking could soon occur. However, note that MACD signal lines and the DMIs are all still very bullish.

Tread lightly, for volatility is at record highs for DITO. This means that should a pullback occur, it would create a wide price range that could even tap the support at 11.40 to 12.00 within a few days.

Recommendation

Sell on rallies.

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