I could add many charts right now detailing similar themes, but this one to me is extremely telling.. South Korea is sitting on the cusp of two 30+ year long trendlines it has not broken in quite some time. These are extremely important. I wouldn't be fully surprised if we retest or don't break right away, but given the moves in global markets, it could just...
The KOSPI is currently descending after hitting 2250 resistance and is declining towards the 2000 level. MACD is also in a downward direction, and RSI is already showing divergence and falling. The long-term barrier has been breaking below all of its horizons, and the first resistance zone is near the 2000 and 1900 levels. There is a strong possibility that the...
South Korea Stock looks undervalued at this moment
A count that suggests that either the KOSPI has completed 5 waves up or may have one more leg to go before a decent correction. For me, the longer term direction is still bullish.
www.cnbc.com I get my ideas from time to time from reading news and evaluate the trading opportunity. Here, you can see price action has finally broken out of the bearish trend line. Although it was not able to sustain for long above the support level at 2105.29, nevertheless, it is still above the bearish trend line as 2nd support. Once the price action...
Use election as a bull catalyst.
This index is an obvious sign of a looming world recession. It continues to show lower highs and a steep decline.
Reason Why KOSPI have to go down in Long Term 1. First of all, reason why stock index of USA, China and other advanced countries getting more higher since 2016, is rising of the companies related to The Fourth Industrial Revolution. Meanwhile South Korea doesn't have any companies like that. (No AI,No Robot, Bio? recently one of bio company called Sillajen failed...
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...
Korea V.S. Japan - This influenced Kospi going to underground but history repeats itself: Bounce at round price(1900) No need to Worry Aim 2000
Expect PA to be bullish in this accumulation phase + low volatility. June = July Bull leg Fibo Channel + distribution.