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 KOSPI (SEOUL.NDX) - Close: 1 951.02 (-10.56), Jan 29, 2015

Chart Technical Analysis KOSPI (SEOUL)

 Weak Negative Candidate (Score: -39)
-Overall analysis, Jan 29, 2015
Analysis Explanation
KOSPI is technically positive for the short term, but negative for the medium and long term.

 Positive Candidate (Score: 63)
-Short term
KOSPI has broken through the ceiling of a falling trend channel. This indicates a slower falling rate initially, or the start of a more horizontal development. Has given positive signal from a double bottom formation by a break up through the resistance at 1925. Further rise to 1964 or more is signaled. The index is testing the support at points 1948. This should give a positive reaction, but a downward breakthrough of points 1948 means a negative signal. The RSI curve shows a rising trend, which could be an early signal for the start of a rising trend. The index is overall assessed as technically positive for the short term.

 Negative Candidate (Score: -74)
-Medium term
KOSPI has broken through the ceiling of a falling trend channel. This indicates a slower falling rate initially, or the start of a more horizontal development. Has reacted back after a false break of a rectangle formation. A significant penetration of 1905 will again give new negative signals to the index, while a break of the opposite side of the formation will be a strong positive signal. The index has support at points 1884 and resistance at points 1985. The index is overall assessed as technically negative for the medium long term.

 Negative Candidate (Score: -60)
-Long term
KOSPI is within an approximate horizontal trend, which indicates further development in the same direction. Is moving within a rectangle formation between support at 1801 and resistance at 2068. A decisive break through one of these levels indicates the new direction for the index. The index is approaching the resistance at points 2050, which may give a negative reaction. Volume tops and volume bottoms correspond well with tops and bottoms in the price. 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-0.51%0.00-0.54%
5 days0.001.70%0.00+1.57%
22 days0.004.06%0.00+1.20%
66 days0.007.26%0.00+0.99%

 


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