The Korea Composite Stock Price Index is currently on a 5 week bullish streak (5 green 1W candles in a row) approaching the overbought zone on 1D (RSI = 70.924).
The important development on the 1W chart though has been the Death Cross formation (MA50 below MA200) earlier this June. This is generally a bearish signal but last time that happened in February 2009...
KOSPI is still in down trend.
KOSPI is still downtrend since Jan. 2018.
It is now try to go up after touching the 2000 strong support line.
In the view of long time frame, it is almost converged so that it is going to show its direction soon.
Indicators says:
MACD shows dead cross and fail to break zero so that it shows downtrend.
However, the RSI is getting...
The Seoul index is approaching the multi year Higher Low Support Zone on 1M, which has just turned bearish (RSI = 41.949, MACD = -21.310, Highs/Lows = -101.3235). This creates the optimal conditions for a long term quarterly buy opportunity. Based on previous similar candle patterns, the rebound is expected to go as high as +17.45%. Our target for the next three...
KRX:KOSPI is looking pretty bad. The overall chart looks bearish and the fundamentals are not getting much better. The uptrend stops reaching the red resistance channels which is another bearish indicator.
Sell-Signal: There are multiple reasons why we are going short, once the purple line is crossed and the price is stagnating in the red zone. The red zones are...
If one is to believe that Chinese growth will continue to slow as is my bias, then you better believe that's terrible for South Korean equities. Today, its the worst performer of all Asian markets so far this afternoon. Overall, no major signals from the oscilators, but I won't be sad if I lose 5 percent on this trade as it fits with my fundamental macro view. See...
On the left we can see a solid bear flag with a breakout AND a successful rejection from the former support. However, when we zoom in on the right, we can see there might be something else going on here. We have a small H&S which seems to be failing already with a good bounce up already. If that red zone breaks it could be a first sign. If the red on the left...
Clearly Celltrion chart is forming rising wedge period. As long as the price is in the trend line the trend is in bullish. But between 50%-70% area is the key that market may shift to other direction.
If price bounce at support line with high volume, price would like to go 370000 won. Probably price will have difficult time breaking ATH within short amount of...
EMART is really popular in Korea. You can think of EMART is Korean Style of Walmart.
There are always demand of EMART in Korea but chart is not looking very bullish. If Head and Shoulder pattern is confirmed; which price break below the support line, price may touch support of trend line (1300000 - 160000 won).
For long term the market will have hard time breaking ATH.
Samsung entered the bear trend.
There is not much to say. Today's Korean news reported few positive news about Samsung's revenue. Especially QLED and DDR RAM sales increased tremendously. However the chart clearly shows the market is in middle of bear market.
It is best to wait during consolidation period and looking forward to break resistance or support of...
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