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ASI - Bull cycle for stock market in Sri lankaLong term targets for ASI indicated in above chart. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:ASILong
by rukshan2102
LIOC.N00001. Key Technical Observations: Price Breakout: The stock has broken above a critical resistance level at 122 LKR (DR). This breakout indicates strong bullish momentum in the short term. Trendline Resistance: The stock is currently testing the descending trendline resistance (black diagonal line). A clear breakout above this trendline with volume confirmation could trigger a move toward higher levels. Support and Resistance Levels: Immediate Resistance: 124.50 LKR (current level) – needs a daily close above this zone to confirm a continuation of the uptrend. Support Levels: 117.75 LKR (DM): Acts as immediate support. 115.75 LKR (DS): A fallback support zone. 111 LKR (WM): A key weekly support zone. 2. Indicators: RSI (Relative Strength Index): RSI is at 74.14, indicating that the stock is overbought. This suggests the possibility of a short-term pullback or consolidation. MACD (Moving Average Convergence Divergence): The MACD line has crossed above the signal line with increasing green histogram bars, signaling a bullish crossover and momentum. 3. Volume and Sentiment: The breakout above 122 LKR occurred with significant volume, signaling strong buyer interest and bullish sentiment. Volume confirmation is crucial for validating further upward moves. 4. Potential Targets: If the stock breaks above the current 124.50 resistance and the descending trendline, the next potential targets are: 130 - 135 LKR Zone (based on previous highs). Followed by higher levels depending on momentum. Failure to sustain above 124.50 could see the price retesting supports at 117.75 LKR or 111 LKR.
CSELK:LIOC.N0000Long
by rukshan2102
CALT.N0000 - Weekly Chart UpdateThe Fibonacci retracement levels are plotted based on the all-time high and low values, providing insight into potential support and resistance zones. The key Fibonacci levels observed on this chart are : 0.236 Level: Around 73.2, which could act as a significant resistance if the stock starts moving up from the current levels. 0.382 Level: Around 60.8, another potential resistance. 0.5 Level: Around 50.7, often considered a pivotal level in retracement analysis. 0.618 Level (Golden Pocket): Around 40.6, which is a critical level and can act as strong support if the price approaches it from above. Current Price and 21-Week Moving Average (Green Line) : The price is currently around 43.8, slightly above the 0.618 Fibonacci level (40.6), suggesting the price is in a critical area. The 21-week moving average (green line) is also near the current price level. This moving average could act as dynamic support if the price remains above it. If it breaks below, it may signal further downside risk. Descending Trendline Resistance : The chart shows a strong descending trendline that has been respected multiple times as resistance. The stock would need to break above this trendline to confirm a reversal or more significant bullish momentum. Support and Resistance Levels : Immediate Resistance: Around 47.1 (Weekly Mid Resistance) and 53 (Weekly Resistance). Support Levels: The 0.618 Fibonacci level at 40.6 and the 0.786 level around 26.3 are key support areas. If the price falls below 40.6, the next significant support zone would be around 26.3. Relative Strength Index (RSI) : The RSI appears to be in a lower range, which could imply oversold conditions on the weekly chart. This may provide some support for the price, but a confirmed upward trend would still depend on breaking key resistance levels. Summary: The stock is in a consolidation phase near critical Fibonacci and moving average levels. A break above 47.1 and ultimately above the descending trendline could signal the beginning of a potential reversal. However, if the price falls below the 0.618 level (40.6), there may be a further downside risk, with 26.3 acting as the next major support. The 21-week MA and the 0.618 level are crucial for maintaining the current consolidation or an upward move, so keeping an eye on these levels is essential. Disclaimer : The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:CALT.N0000
by rukshan2102
LANKEM DEVELOPMENTS PLC : LDEV.N0000 : CSEOverview LDEV is the parent company of AGARAPATANA PLANTATIONS PLC (AGPL.N0000) and 98% of group revenue of LDEV is from AGPL. Strategy 1. Getting exposure to a probable interim dividend expected to be LKR 2.00. LDEV subsidiary AGPL declared an interim dividend of LKR 1.00 payable on 28th Oct. 2024 which will generate LKR 239M as net dividend (after tax) proceeds for LDEV. As LDEV doesn't have bank borrowings we can assume this dividend receipt will be re-distributed as a dividend to LDEV shareholders. If the board decided to distribute the entire amount, it can be an interim dividend of LKR 2.00. Assumption: Not deciding to utilize the proceeds in settling intercompany balances. 2. Getting exposure to a continuous dividend stream and exposure to one of the best performing plantation companies in CSE. AGPL is currently with almost zero net borrowings. If tea prices remain @ current levels, we can expect the dividend stream will continue with enhancements. EPS FY 2023 = LKR 1.20 EPS 1Q 2024 = LKR 0.71 (If tea prices remain @ current levels with current yields, we can assume a FWD EPS for FY 2024 = LKR 2.84) Fundamentals 1. FY 2023 earnings * FY 2023 EPS LKR 1.90 2. Q1 2024 earnings * 1Q 2024 EPS LKR 1.52 * Assuming AGPL managed to maintain current earnings we can assume a FWD EPS of LKR 6.00 for LDEV. (FWD PE 3) 52 Week Price Range High : LKR 23.90 Low : LKR 13.80 All time high LKR 38.90 Technical Analysis (Chart Patterns) * LDEV had created a Descending Wedge pattern during the 2-year price correction and another wedge pattern during last 10 months of consolidation process. During last week both of these patterns recorded break outs. Potential Pattern Targets * 10-month consolidation wedge pattern target LKR 22.80 * 2-year descending wedge pattern target LKR 35.30
CSELK:LDEV.N0000Long
by HR2302
hSenid Business Solutions PLC / HBS.N0000 / CSEStrategy 1. Portfolio alignment to the sectors that will benefit from the rapid economic recovery of Sri Lanka. 2. Benefit from the expected price recovery/breaking out from the 1-year consolidation range (bottoming out) after post IPO selloff. Most of the selling came from the account: Mr. O.E.H. Kalvo which had 19,800,000 shares as at 31st Dec. 2021 and are expected to be over by now. Fundamentals * Continuous top line growth during last 4 quarters * As Sri Lanka's economy is on a growth phase exceeding forecasts HBS will benefit from increased IT budget allocations of other companies and new ventures. * Business exposure to high growth areas of the world (South Asia, Southeast Asia, Middle East and East Africa) * Most of the major shareholders opted the dividend in the script form (reinvesting the dividend in the company) instead cash which shows the strong confidence of the company's growth trajectory. No of shareholders requested for 100% script dividend: 12% No of shareholders requested for 50% cash & 50% script dividend: 45% Q1 2024 earnings Revenue up 30.5% YoY & 7.6% QoQ New deal closures up 44% YoY Dividend Yield Last Dividend LKR 1.25 (Cash/Scrip or both 50/50) DY : 10.4% (Market DY 4.4% / 1 Year FD rate 8%) IPO Opened: 3rd Dec 2021 IPO Price : LKR 12.50 CSE debut Price LKR 28.50 52 Week Price Range High : LKR 14.00 Low : LKR 10.50 Technical Analysis (Chart Patterns) * HBS had created a Descending Wedge pattern during the post IPO selloff and a Reverse Head & Shoulder pattern during the 1 yearlong price consolidation (Dividend adjusted chart). * Both these patterns recorded breakouts during last week. Potential Pattern Targets * Multi week descending wedge target LKR 20.00 * Reverse head & shoulder target LKR 14.30
CSELK:HBS.N0000Long
by HR2302
ASI - Elliot Wave PatternThe completion of this pattern typically suggests that the market might enter a corrective phase or a new trend might begin. It’s crucial to keep an eye on the key support and resistance levels and be cautious about the potential market movements. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:ASIShort
by rukshan2102
AMF.N000050DMA (Green line) acting as a resistance line & 23 will be the strong support level in upcoming days. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:AMF.N0000Long
by rukshan2102
ASIR.N0000📈 Stock ASIR closed at 23.9 on 31/05/2024 🔹 Resistance Level: 25 🔹 200 EMA: 24.8 🔹 Last Friday's candle: Pin Bar The recent pin bar candle suggests a potential reversal, with the 200 EMA acting as a significant resistance level at 24.8. Keep an eye on this stock as it approaches the 25 resistance level. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:ASIR.N0000Long
by rukshan2102
JKH.N0000 - Key fib levels in monthly chartJKH is consolidating in golden pocket now. It should close above golden pocket to keep bullish momentum.In next few months, Next support will be around 0.5 fib level and resistance will be 0.718 Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:JKH.N0000
by rukshan2102