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BIST 100 Index

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XU100 trade ideas

XU100 DO or DIEWelcome to my XU100 analysis. 1) Neutral First of all when we draw a regression trend from the Corona crisis (March 2020) to the Triple Top of 1580 level, apparently we are still in a bull run. However, the price level dropped below the regression trend on 21st of April but it went back into the regression trend. Currently the support of the trend is at 1432 level, and today's close price is clearly below that level. This is an extremely bad sign. However, The price could jump back into the channel just like it happened before. So according to this analysis, the price should immediately get inside to the channel. 2) Bullish From the bullish perspective, Orange trendline is clearly the support of the current bull run. Above the orange line, we still expect further growth of the price. Support level of the Orange Trend line is 1386. Bulls should defend 1386 with all their power, otherwise the scenario turns about to be bearish. 3) Bearish From the bearish perspective, regression trend is now broken, and if orange line doesn't hold, or bulls couldn't defend, then initial price target is around 1284 where I draw with green line. Green line worked 2 times as resistance and 1 time as a support. If bulls can defend the 1432-1386 zone, then we may see another jump to the red resistance line, which is around 1480. If able to break above, then investors should directly aim for 1900. Overall, between 1432 and 1386, it is a "now or never" time for XU100. Below this level, it is extremely bearish, above it it is a sign of the continuation of the bull run. This is not a financial advice.
BIST:XU100
by bartuclk
BIST 100 resumes its decline - (B) might be completedIt seems like the (B) wave in the recent correction is completed at 1445.13 on April 6th, and it resumes its move to downwards to complete (C) wave. Based on A=C rule, the (C) wave might be expected to end at 1111.98 level, which also coincides with the starting level of the previous rally, which means a double bottom. From 1111.98, it might be expected to have at least 3 wave reaction to ongoing decline. Breaking down 200 MA will be 1st confirmation and breaking down 1256.32 (A) will be 2nd confirmation.
BIST:XU100Short
by shibumigo