End of Bear Market at CSE

DUWI · 1 End of Bear Market at CSE Fri Sep 07, 2012 2:44 pm

DUWI

Senior Equity Analytic

Posts : 52
Equity Stars : 4391
Reputation : 6
Join date : 2012-07-27

Further to the previous post VERY POSITIVE ENERGY (http://forum.srilankaequity.com/t22362-very-positive-energy#135082),
the very convincing way that the ASPI broke through/rose above the 200 Day Moving Average today signals the end of the prolonged bear market at the CSE. Strong buying into JKH (a market heavyweight) near the end of the trading session confirms this.

Given the very positive energy in the market, it is also most likely that next major resistance level of 5600 on the ASPI would be broken.

Would appreciate if technical analysts with Fibonacci Projection capability advise on the potential upside.

traderathome · 2 Re: End of Bear Market at CSE Fri Sep 07, 2012 3:00 pm

traderathome

Senior Vice President - Equity Analytics

Posts : 2485
Equity Stars : 7203
Reputation : 133
Join date : 2012-02-26
Age : 50
Location : Abu Dhabi

DUWI wrote:Further to the previous post VERY POSITIVE ENERGY (http://forum.srilankaequity.com/t22362-very-positive-energy#135082),
the very convincing way that the ASPI broke through/rose above the 200 Day Moving Average today signals the end of the prolonged bear market at the CSE. Strong buying into JKH (a market heavyweight) near the end of the trading session confirms this.

Given the very positive energy in the market, it is also most likely that next major resistance level of 5600 on the ASPI would be broken.

Would appreciate if technical analysts with Fibonacci Projection capability advise on the potential upside.

5500 is psychological barrier, so for me 5550 area or 5565 give and take few points above stands the Res. level like you said due to previously 2 failed attempts. ASI 6200~6300 levels will see some correction to the lower.But it may allow some to off load and some to get in for the next run up.provided the regulators do not hurt the sentiments

If i remember correct we had discussed this on several threads on future market directions, let me have a DIG IN and post it for you ...

Until then happy trading
TAH
Very Happy

DUWI · 3 Re: End of Bear Market at CSE Fri Sep 07, 2012 3:17 pm

DUWI

Senior Equity Analytic

Posts : 52
Equity Stars : 4391
Reputation : 6
Join date : 2012-07-27

Thanks for this Traderathome.

Knowing the potential upside will enable us to trade/take positions with confidence.

Antonym · 4 Re: End of Bear Market at CSE Fri Sep 07, 2012 3:22 pm

Antonym

Vice President - Equity Analytics

Posts : 1090
Equity Stars : 7461
Reputation : 275
Join date : 2011-02-09

DUWI wrote:
Would appreciate if technical analysts with Fibonacci Projection capability advise on the potential upside.

http://www.forexpros.com/forex-tools/fibonacci-calculator

In the past 2 years, the ASI has touched a High of 7863.74 and a Low of 4725.57. If you input these values into any standard Fibonacci Calculator, you would get the following Retracement levels:
61.8% Retracement: 5924
50.0% Retracement: 6295
38.2% Retracement: 6665
23.6% Retracement: 7123

Please confirm whether my understanding is correct.

traderathome · 5 Re: End of Bear Market at CSE Fri Sep 07, 2012 3:32 pm

traderathome

Senior Vice President - Equity Analytics

Posts : 2485
Equity Stars : 7203
Reputation : 133
Join date : 2012-02-26
Age : 50
Location : Abu Dhabi

Antonym wrote:

DUWI wrote:
Would appreciate if technical analysts with Fibonacci Projection capability advise on the potential upside.

http://www.forexpros.com/forex-tools/fibonacci-calculator

In the past 2 years, the ASI has touched a High of 7863.74 and a Low of 4725.57. If you input these values into any standard Fibonacci Calculator, you would get the following Retracement levels:
61.8% Retracement: 5924
50.0% Retracement: 6295
38.2% Retracement: 6665
23.6% Retracement: 7123

Please confirm whether my understanding is correct.