Are We Going to Break the 200 Day Moving Average?

October 25, 2009 by Saud

Following last week’s negative retreat, the market continued its downward trend today and closed at a critical level: its 200 day moving average. This average is usually harder to break and is considered the strongest support, nevertheless, once broken we have no direction to head but south. Along with the weak volumes, it is possible to witness more negative returns on the index as I can’t think of any positive catalysts in the horizon. I say we plummet.

Screen shot 2009-10-25 at 5.33.07 PM

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This entry was posted on Sunday, October 25th, 2009 at 6:02 pm and is filed under Kuwait. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “Are We Going to Break the 200 Day Moving Average?”

  1. KSE Trader says:
    October 25, 2009 at 9:24 pm

    Sorry, but I have to agree that we will go down. If Zain deal doesn’t happen, I see armageddon.

    [Reply]

  2. Sal says:
    October 25, 2009 at 11:55 pm

    Next stop 6700, see you soon!

    [Reply]

  3. Did the Kuwait SE break its 200 DMA? Yes and No. « Alpha Dinar- talking finance says:
    October 26, 2009 at 5:44 pm

    [...] wrote a post  yesterday about the significance of breaking the 200 day moving average of the Kuwait Stock [...]

  4. We Got the Answer « Alpha Dinar- talking GCC finance says:
    November 2, 2009 at 6:16 pm

    [...] week I wrote an article titled “Are We Going to Break the 200 Day Moving Average?“; I’m guessing that you already have an idea on where I am going as the title explains [...]

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