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 KOSPI (SEOUL.NDX) - Close: 1 998.34 (-2.03), Apr 24, 2014

Chart Technical Analysis KOSPI (SEOUL)

 Neutral (Score: 17)
-Overall analysis, Apr 24, 2014
Analysis Explanation
KOSPI is technically positive for the short term, neutral for the medium term, and negative for the long term.

 Positive Candidate (Score: 82)
-Short term
KOSPI is in a rising trend and a continued rise within this trend may be expected. In addition, the price has now fallen back towards the floor of the trend channel, which should give a reaction up. A head and shoulders formation is, however, under development. A decisive break of the support at 1994, ideally with an increase in volume, signals a further fall. Has given positive signal from a inverse head and shoulders formation by a break up through the resistance at 1990. Further rise to 2086 or more is signaled. The index has support at points 1980 and resistance at points 2010. The index is overall assessed as technically positive for the short term.

 Neutral (Score: -1)
-Medium term
KOSPI does not show any clear trend. Has given positive signal from a inverse head and shoulders formation by a break up through the resistance at 1990. Further rise to 2086 or more is signaled. The index is testing the resistance at points 2000, which may give a negative reaction. RSI is overbought. The index can still rise further, and we should see a decreasing RSI before this is used as a negative signal. The index is overall assessed as technically neutral for the medium long term.

 Negative Candidate (Score: -52)
-Long term
KOSPI has risen up towards the ceiling of an approximate horizontal trend channel. A continued development within this trend channel may be expected and the current price level may be a good exit price. Is moving within a rectangle formation between support at 1909 and resistance at 2027. A decisive break through one of these levels indicates the new direction for the index. The index is testing the resistance at points 2030. This should give a negative reaction, but an upward breakthough of points 2030 means a positive signal. Volume tops correspond well with price tops, and volume bottoms correspond well with price bottoms. This strengthens the index and increases the chance of a break up. The index is overall assessed as technically negative for the long term.

1 day-0.58%0.00-0.10%
5 days0.001.92%0.00+0.31%
22 days0.004.90%0.00+2.71%
66 days-9.858.81%116.00+2.77%


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