Negative sentiment has been killing the KSE index making it bleed day by day. Although the market closed up today, I don’t think it showed any good indication as it has been negative for most of the day.
Last 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 it all. Yes, we did break the 200 day moving average, and if you are a technicals fan, it seems that we are heading south to the 6,500 levels; back to where we were in January. This means slashing 23% from recent highs. I’m hoping that the 7,000 would be difficult to break through!
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Loading ...Tags: Bear Market, KSE, Kuwait Stock Exchange, Technical Analysis, technicals
I guess today was marginally positive in that we closed above the 200 day moving averge of 410.52 on the KSE Weighted Index. There was a scare since we closed at 411 yesterday.
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I still believe that the price index is more relevant here ;p
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i the long run as in 2010 i believe we may see 6500 again, but for now were heading to 6900 were a gap is there and historical trend lines are very strong
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Keynesian Reply:
November 3rd, 2009 at 4:01 pm
I would tend to agree unless a significant catalyst occurs (e.g. No Zain deal)
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Wanna see what I think?
draw a weekly 5-year chart and put in a 50-week moving average!
Ouch!!!! How did I miss that?!?
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