Waiting for Break-Out Citizens Bank International Ltd.

Candlesticks
A white body occurred on Thursday as price closed  at Rs. 254, higher than the  opening.

During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candles.  During the past 50 bars, there have been 20 white candles and 26 black candles for a net of 6 black candles.


Bollinger Bands
On 6/13/2013, Citizens Bank International Ltd. (CZBIL) closed above the lower band by 48.4%.  

Bollinger Bands are 74.10% narrower than normal.  The narrow width of the bands suggests low volatility as compared to CZBIL's normal range.  Therefore, the probability of volatility increasing with a sharp price move has increased for the near-term.  The bands have been in this narrow range for 12 period(s).  The probability of a significant price move increases, the longer the bands remain in this narrow range.  


Relative Strength Index
The current value for the 14 period RSI is 47.2035.

Support: Rs.258, Rs.243, Rs.233, Rs.223
Resistance: Rs.258, Rs.263, Rs.273, Rs.283

Recommendation:
Based on the chart and Indicators  above, Citizens Bank International Ltd is trading with in the channel from 19th Feburary, 2013. Bollinger Bands are tightining, indicating near term volitility. Closing above Rs. 260 indicates a bullish trend in this stock. Channel break-out would conform the trend.