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 KOSPI (SEOUL.NDX) Close: 2 489.54 (+16.48), Oct 20, 2017

Chart Technical Analysis KOSPI (SEOUL)

rsi chart
 Positive Candidate (Score: 78)
-Overall analysis, Oct 20, 2017
Analysis Explanation
KOSPI is technically neutral for the short term, but positive for the medium and long term.

 Neutral (Score: 17)
-Short term
KOSPI is in a rising trend and a continued rise within this trend may be expected. However, the price is now close to the ceiling of the trend channel, which may give a reaction down. The index has support at points 2416. RSI is overbought. This shows that the momentum of The index is strong and that the price may well rise further in the short term. We should see a decline in the RSI chart before this is considered to weaken the index. The index is overall assessed as technically neutral for the short term.

 Positive Candidate (Score: 85)
-Medium term
KOSPI is within a rising trend. Continued positive development within the trend channel is indicated. The moving average indicator has also given a positive signal. In isolation, this signals a continued rise, but the slowness of the indicator often means that one has lost much of the upside. The index has broken up through the resistance at points 2450. This predicts a further rise. RSI is overbought. This shows that the momentum of The index is strong and that the price may well rise further in the short term. We should see a decline in the RSI chart before this is seen as a negative signal. The index is overall assessed as technically positive for the medium long term.

 Positive Candidate (Score: 78)
-Long term
An approximate horizontal trend is broken up. A continued strong development is indicated, and the index now meets support on possible reactions down towards the trend lines. It also gave positive signal from a rectangle formation at the break up through the resistance at 2334. Further rise to 2790 or more is signaled. The index has support at points 2170. Negative volume balance weakens the index in the short term. The index is overall assessed as technically positive for the long term.

1 day-0.45%772.27+0.67%
5 days0.941.49%588.27+0.64%
22 days-44.303.84%565.32+3.04%
66 days-21.637.45%606.98+2.62%

 


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