After being long time with almost no time, finally I can be back & post some analysis in my blog again...
How's day friends?? Should be good, I think, even some picks weren't working as what we hope, but we still have some picks which are going as what we hope. A lot of people asking me, where is our index heading? Then I simply answer I don't know, because I have almost no time & my laptop was in the hospital last week. But I see a positivity & optimism in our exchange.
We can see that our index was traded at a very positive enthusiasm from the traders & investors after some dips last day, but still I have to warn you friends, for not being too quick to re-enter the market as it hasn't been 100% confirmed to continue the bull rally for the end of the year. For those who've got stocks in hands, just hold & remember to keep you stop loss level. In the other hand, for those who've not have any stocks, better hold, comfort, wait yourselves for this moment.
Here're some analysis for indices for next week. Let's get started!!!
Based on technical analysis, we can see that our index is now at 3725.05, based on my counting, it must break the number of 3722.62-3730 with volume, unless it can again go down to 3577.85-3590 and consolidate for a while before starting the Q4 Rally (Scenario 1). The other scenario is it keeps the bull rally hot and it might go to 3822-3830 (Scenario 2). See the chart below.
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| Scenario 1 Index having the Correction |
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| Scenario 2 Index continues the Rally |
Based on the oscillators, they show that the index has a tendency to move on again, so it is most probable that Scenario 2 will happen. From most views candlestick, oscillators, mostly are expressing a bull is in place.
The other index is Dow Jones Industrial Average (DJIA), which is known to be the most popular one in the world, we can see the tendency of the buying in US is still available, but they have a resistance to be passed at 11231 which hasn't been passed for two days, usually with this kind of pattern, the price will breakout at the third times, we don't know whether it will be on Monday or later. Yet in the last three months it is at a bullish area & still on track, so the target breakout is 11231-11244, once this price has been broken out, then it is highly possible that the index will continue the race. Oscillators are fine & showing a bullish reversal at the last two trading days.
Happy Investing^^
Disclaimer ON!!!
