No one can predict the bottom but we can anticipate the direction of how will it go & how can we minimize our losses. I believe that currently most of the retail traders are suffering in loss, so do I. And we are having our effort in the recovery as soon as possible. Running at a quite expensive P/E is one of the risk of our index nowadays, no good sentiment is the other risk that we're facing right now.
And it is also reflected by the chart that the index will go to nowhere as it has been confirmed by the chart that it's going down with a score of bearish (medium bearish) and the bearish is also confirmed by the chart pattern which is showing a "triple top pattern" which is quite rare but it happens in our index with volume increment significanty, capital outflow is one of the main cause of this declines.
Here's the chart:
Tomorrow, I expect a technical rebound only and it might not surpass the level at 3530 for tomorrow. Yet the index will continue to slide to around 3164.26 - 3283.85, which is around 5.93 - 9.93 % sliding. Quite far but this is only theoretically not practically. But still, I optimistically believe that tomorrow will be a technical rebound.
Rating: Sell On Strength; TP: 3164.26 - 3283.85
Happy Investing^^
Disclaimer ON!!!
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