Kospi
KOSPI: Long term Buy opportunity.The Seoul index is approaching the multi year Higher Low Support Zone on 1M, which has just turned bearish (RSI = 41.949, MACD = -21.310, Highs/Lows = -101.3235). This creates the optimal conditions for a long term quarterly buy opportunity. Based on previous similar candle patterns, the rebound is expected to go as high as +17.45%. Our target for the next three quarters is 2,400.
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KOSPI - KOREANS ARE LOOKING INTO THE EYES OF THE BEARKRX:KOSPI is looking pretty bad. The overall chart looks bearish and the fundamentals are not getting much better. The uptrend stops reaching the red resistance channels which is another bearish indicator.
Sell-Signal: There are multiple reasons why we are going short, once the purple line is crossed and the price is stagnating in the red zone. The red zones are defining strong support and are also part of the recently established green SupertrenD support channel (not visible in the chart). If you look at the total chart, then it will be the first strong signal once 1950 is broken. That's when we will enter a short position on the index. When 1850 breaks, then we lose the last support channel and will head down without support until the support channel which was established 1998 at the end of the Asian crisis.
We can not really tell you a target for now, because the channel will move up over time, but it might be in the 1500 area. We would manually lower our exposure once the price starts to jump back over 1950 and starts to build support.
I hope this was helpful.
Best,
Felix Kewa
Trends DownIf one is to believe that Chinese growth will continue to slow as is my bias, then you better believe that's terrible for South Korean equities. Today, its the worst performer of all Asian markets so far this afternoon. Overall, no major signals from the oscilators, but I won't be sad if I lose 5 percent on this trade as it fits with my fundamental macro view. See more of that view here: anthonylaurence.wordpress.com
Kospi200 Bearflag Beartrap?On the left we can see a solid bear flag with a breakout AND a successful rejection from the former support. However, when we zoom in on the right, we can see there might be something else going on here. We have a small H&S which seems to be failing already with a good bounce up already. If that red zone breaks it could be a first sign. If the red on the left breaks it would mean the bear trap is very likely. If the green support breaks it will be very likely that it just continues to drop as the bear flag is already suggesting.
The blue line is a big resistance level from that big gap we can see.
Since it's december and closing in on the holidays, is also in favor of the bulls.
Celltrion Rising Wedge PeriodClearly Celltrion chart is forming rising wedge period. As long as the price is in the trend line the trend is in bullish. But between 50%-70% area is the key that market may shift to other direction.
If price bounce at support line with high volume, price would like to go 370000 won. Probably price will have difficult time breaking ATH within short amount of period.
Remember, Rising wedge usually is the signal of bear trend. So keep on eyes on support level.
EMARTEMART is really popular in Korea. You can think of EMART is Korean Style of Walmart.
There are always demand of EMART in Korea but chart is not looking very bullish. If Head and Shoulder pattern is confirmed; which price break below the support line, price may touch support of trend line (1300000 - 160000 won).
For long term the market will have hard time breaking ATH.
Samsung Electronics Bearish TrendSamsung entered the bear trend.
There is not much to say. Today's Korean news reported few positive news about Samsung's revenue. Especially QLED and DDR RAM sales increased tremendously. However the chart clearly shows the market is in middle of bear market.
It is best to wait during consolidation period and looking forward to break resistance or support of the trend line.
Donga ST, Time to see what happen next.It is time to wait and see what happens next.
RSI shows low point which means the market has over sold. On top of that, the price is about to touch the support line. If market can hold the current price, we could potentially see bounce.
It is the best to wait and get the confirmation instead of guessing for the next move.
Hanmi Pharmaceutical potential hit 260000 wonA B C area have heavy rejection from 50% of trending area. Current situation have potential hit the support line area; which is 260000 won.
Once price hit support line, make sure check if price is bouncing with high volume to confirm your entering position.
Bitcoin Too Volatile. Poor Store of ValueLook at how regulated markets that only operate for 6.5 hours a day are destroying wealth. Bitcoin is steady as a rock. There will soon be a flippening where money from global stock markets enter bitcoin.
KOSPI in 6Y Wedge PatternSymmetrical wedge implies a continuation pattern with upside resolution. But fundamentals are bearish for Korea, including declining global trade, domestic political turmoil, U.S. protectionism, and the global dollar shortage.
Neutral until wedge breakout is confirmed.
Korea KOSPI Comp Index Daily (04.Oct.2014)Tech.Analysis TrainingThe Korea KOSPI Index (Kospi) Daily Diagram Technical Analysis Training shows the following:
The KOSPI index has declined more and now is under the KUMO. MACD is bearish and RSI is entering oversold levels.
So the first think in mind is that KOSPI will test the 1954 support.
There is no special candlestick pattern. The index is under the Tenkan Sen and Kijun Sen too (bearish). The index broke the EMA 200 and now it is under it.
Fib shows the 2.618 support at 1954.58.
Short for 1954 but be cautious for a reaction towards to EMA 200.
Korea KOSPI Comp Index Daily (13.Sep.2014)Tech.Analysis TrainingThe Korea KOSPI Index (Kospi) Daily Diagram Technical Analysis Training shows the following:
The KOSPI index has declined more and now is into the KUMO. The weekly diagram is turning bearish.
So the first think in mind is that KOSPI is into the KUMO with neutral behavior now. MACD is bearish and RSI too.
There is no special candlestick pattern. The index is under the Tenkan Sen and Kijun Sen too (bearish).
Fib shows the 1.618 support at 2037.
Stay aside. Long above the KUMO while the resistance will be broken or short under the KUMO.
Korea KOSPI Comp Index Daily (07.09.2014)Tech. Analysis TrainingThe Korea KOSPI Index (Kospi) Daily Diagram Technical Analysis Training shows the following:
The KOSPI index has declined last week from 2084 local top three times now breaking the support line. The monthly diagram is bullish breaching its own asceding triangle and the weekly diagram is bullish too.
So the first think in mind is that KOSPI is asking support from KUMO. MACD is bearish and RSI too.
There is no special candlestick pattern. The index is above the KUMO and is under the Tenkan Sen and Kijun Sen too (bearish).
Fib shows the 1.618 support at 2037.
Watch the behavior of KOSPI at SPAN A (green line) of KUMO. Short if it gets into it. Stop loss above the resistance line.
