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ASI trade ideas

CSE ASI & SL20With both indexes finding resistance and the formation of bearish divergence on RSI, it is best to see how far both indexes will retrace down to make the higher low formations. If the bearish momentum continues for the second day both indexes might find support around 10-Day moving averages around (9060 ASI) and (2780 SL20) The most bullish scenario will be for both indexes to break above both resistance zones while creating inverted head and shoulder patterns. Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
CSELK:ASI
by UnknownUnicorn33113667
CSEASI - Megaphone Pattern Detected?Just noticed the Index has completed the Wave #5 of the bullish megaphone pattern. I have drawn the new development today using white lines to make it more clear to you. I did not notice if anyone in the community noted this pattern as yet. For every megaphone pattern there should be a prior trend. Prior trend is confirmed, and its bullish in this case, hence a short pullback to the support line 9135 can not be ruled out before continuity of underline trend. As at this moment pattern is near the breakout from the resistance level of 9300. This is no ordinary resistance by the way. And a not so difficult to break out either :) This has 50% outcome of being, good or bad. Simply because near the resistance level we never know the outcome as possibility to end as failed pattern. We can not rule out this will be a failed pattern as well, simply assuming current resistance points. The pattern has rallied the bulls to give another momentous opportunity to break the shackles and go to one level up towards 9600. Wishing good luck to all the bulls.
CSELK:ASILong
by ArifeenRavin
#CSEASIThe index has past resistance around the 9300 mark. The ST bull flag has broken out near the 9300, but not quite yet successfully though. A possible flag and pole pattern break out indicate a possibility to the Index finding resistance around 9600. Support wise there are 2 levels marked in red horizontal lines below current levels. Presently the Index on a pullback to the top of the flag, and should see a break out or a break down to the immediate resistance or support. My biase is bullish due to the flag and pole pattern.
CSELK:ASILong
by ArifeenRavin
1
CSEASI9300 Resistance has failed to breach. Flag and Pole pattern failed to materialize. support 8800 has now turned resistance. immediate turnaround is expected around its interim support of 8500. Failure will push the index to a long-term support of 8100-8000. Indecision about holding the LG election is also contributing to the downside coupled with Electricity tariff hike approval by PUCSL.Not the ideal time to go bullish but cautious approach to identify GEMS and pick carefully.
CSELK:ASI
by ArifeenRavin