FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

Click Link to get instant AI answers to all business queries.
Click Link to find latest Economic Outlook of Sri Lanka
Click Link to view latest Research and Analysis of the key Sectors and Industries of Sri Lanka
Worried about Paying Taxes? Click Link to find answers to all your Tax related matters
Do you have a legal issues? Find instant answers to all Sri Lanka Legal queries. Click Link
Latest images

Latest topics

» Latest Financial Status and Future Outlook of SMB Finance PLC
by ChatGPT Yesterday at 11:15 pm

» Latest Financial Status and Future Outlook of Overseas Realty PLC
by ChatGPT Yesterday at 11:00 pm

» Latest Financial Status and Future Outlook of Merchant Bank of Sri Lanka & Finance PLC
by ChatGPT Yesterday at 10:55 pm

» McDonald’s අපේ නෙමෙයි අපේ බෝස්ගේ – අබාන්ස් කියයි
by ChooBoy Yesterday at 10:19 am

» AI Assistance for Stock Market Research and Analysis
by ChatGPT Yesterday at 7:12 am

» Comparative Analysis of the Insurance Sector
by God Father Tue Mar 26, 2024 11:46 pm

» Sri Lanka: Why Pay Exorbitant Taxes?
by ChatGPT Tue Mar 26, 2024 10:52 pm

» LANKA CREDIT AND BUSINESS FINANCE PLC (LCBF.N0000)
by K.R Tue Mar 26, 2024 3:15 pm

» CENTRAL INDUSTRIES PLC (CIND.N0000)
by D.G.Dayaratne Tue Mar 26, 2024 9:11 am

» SIYAPATHA FINANACE PLC (SLFL.N0000)
by ChatGPT Tue Mar 26, 2024 7:58 am

» FINANCE AND LEASING SECTOR
by ChatGPT Mon Mar 25, 2024 6:45 am

» LOLC FINANCE PLC (LOFC.N0000)
by ChatGPT Mon Mar 25, 2024 6:36 am

» CIC HOLDINGS PLC (CIC.N0000)
by ChatGPT Mon Mar 25, 2024 6:18 am

» UNION ASSURANCE PLC (UAL.N0000)
by ChatGPT Mon Mar 25, 2024 6:15 am

» First Capital Holdings PLC: Current Financial performance and future outlook
by God Father Sun Mar 24, 2024 10:58 pm

» LankaBizz: Sri Lanka's First ever Artificially Intelligent (AI) Business and Research Assistant
by God Father Sun Mar 24, 2024 7:27 am

» HOTEL AND TRAVEL SECTOR
by ErangaDS Wed Mar 20, 2024 7:22 am

» CIC Holdings Good Times Ahead
by ashan silva Mon Mar 18, 2024 11:00 am

» EPF Fund keep eye on low P/E Shares
by K.R Mon Mar 18, 2024 8:45 am

» SINS - the Tailwind effects of a crisis hit Economy
by Hawk Eye Mon Mar 18, 2024 8:37 am

» Ceylon cold stores
by Hawk Eye Mon Mar 18, 2024 8:25 am

» Asha securities Provide buy signal for CIC
by ddrperera Fri Mar 15, 2024 1:10 am

» CSE ready for another Downtrend?
by D.G.Dayaratne Thu Mar 14, 2024 11:24 am

» LankaLAW Forum : Sri Lanka’s #1 Discussion Platform for Legal Questions and Answers
by blindhog Thu Mar 14, 2024 9:14 am

» Sri Lanka poised to benefit from demand surge for ‘non-China origin’ graphite
by samaritan Wed Mar 13, 2024 1:31 pm

LISTED COMPANIES

Submit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)



CHRONICLE™ YouTube

Disclaimer
FINANCIAL CHRONICLE™ Disclaimer

The information contained in this FINANCIAL CHRONICLE™ have been submitted by third parties directly without any verification by us. The information available in this forum is not researched or purported to be complete description of the subject matter referred to herein. We do not under any circumstances whatsoever guarantee the accuracy and completeness information contained herein. FINANCIAL CHRONICLE™ its blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not in any way be responsible or liable for loss or damage which any person or party may sustain or incur by relying on the contents of this report and acting directly or indirectly in any manner whatsoever. Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility, FINANCIAL CHRONICLE™ blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. The information on this website is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.

Further the writers and users shall not induce or attempt to induce another person to trade in securities using this platform (a) by making or publishing any statement or by making any forecast that he knows to be misleading, false or deceptive; (b) by any dishonest concealment of material facts; (c) by the reckless making or publishing, dishonestly or otherwise of any statement or forecast that is misleading, false or deceptive; or (d) by recording or storing in, or by means of, any mechanical, electronic or other device, information that he knows to be false or misleading in a material particular. Any action writers and users take in respect of (a),(b),(c) and (d) above shall be their own responsibility, FINANCIAL CHRONICLE™ its blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental violation of securities laws of any country, damages or loss arising out of the use of this information.


AI Live Chat

You are not connected. Please login or register

Market turnaround -Technical Signals witnessed!!

+5
Meta Trader
Soundchips
supun.perera
gann
Quibit
9 posters

Go to page : 1, 2  Next

Go down  Message [Page 1 of 2]

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

According to my technical analysis market is likely to turnaround in the coming week. Buy signals are witnessed in many stocks including ASI and MPI. MacD's, Stochastic Oscillators, Wiliams, RMO all positive. All leading and lagging signal indicators show an upward trend. I am not the best around, but I am sure our Technical Guru.. GANN knows better than all of us.

Let's wait for his report!!!!

gann

gann
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

[img][You must be registered and logged in to see this image.][/img]

Above is the weekly chart of ASI.

I would be bullish only when ASI closes above 7320(Marked in cyan color)
Also note how the market changed the trend around the 50% re-tracement.



Last edited by gann on Mon Mar 28, 2011 12:14 am; edited 2 times in total

gann

gann
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

DIST looks promising too
http://forum.srilankaequity.com/t2203-dist-broke-the-triangle

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Thanks.. Gann
I agree with you on candlesticks on fibonacci retracement, with the indicative support and resistant, but have a look the MacD of MPI and the leading oscillators. ASI is just about to break the signal line. Also the RMO and the rainbow!!! All look very positive..



Last edited by Quibit on Mon Mar 28, 2011 12:26 am; edited 2 times in total

gann

gann
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Quibit wrote:Thanks..
I agree with you on candlesticks on fibonacci retracement, but have a look the MacD of MPI and the leading oscillators. ASI is just about to break the signal line. Also the RMO and the rainbow!!! All look very positive..

To confirm uptrend you need to see a higher high and a higher low. We have the higher low from last week. ASI is required to close above 7320 to post a higher high. Also The probability for ASI to move sideways is also high. ASI showed some sideways movement on the 25th.

BTW MILANKA looks good.

supun.perera

supun.perera
Stock Analytic
Stock Analytic

gann wrote:To confirm uptrend you need to see a higher high and a higher low. We have the higher low from last week. ASI is required to close above 7320 to post a higher high. Also The probability for ASI to move sideways is also high. ASI showed some sideways movement on the 25th.

Hi Gann,

I did a similar analysis (but I prefer the daily candles). I too second your opinion on the ASI.

After the double-top and the breaking of the key support level (7498), the ASI crashed down only to recover at the 61.8% level (no surprise there!). Now its bouncing along at 50% level. Though there is a higher-low, the ASI must give us a higher-high around the 38.2% level (according to my chart its 7354 - slightly higher than yours) to indicate a clear Northern direction. This I see as a critical indicator, because the current 50% level has been a Resistance in early October. So hopefully, it will become a Support now.

Once the 38.2% level is broken through, the next resistance could be 23.6% level (7498-7549 region).
The reason is the valley between the double-top.

--------------------

Another interesting thing was shown in the RSI. The ASI was in "overbought" region for more than a month. It moved past 80 for a considerable period as well. But on the recovery, the ASI barely went into the "oversold" area. It turned back around 35. In other words, the ASI was quite content at being in the "overbought" area than being in the "oversold" area. So I believe, that the market is capable of quick recovery. However, it must show clear evidence as I (and Gann) observed above.

(Pls click on the image below to view the full chart)
[img][You must be registered and logged in to see this image.][/img]

Soundchips


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Thanks for the Charts and information.

Meta Trader

Meta Trader
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

gann wrote:
Quibit wrote:Thanks..
I agree with you on candlesticks on fibonacci retracement, but have a look the MacD of MPI and the leading oscillators. ASI is just about to break the signal line. Also the RMO and the rainbow!!! All look very positive..

To confirm uptrend you need to see a higher high and a higher low. We have the higher low from last week. ASI is required to close above 7320 to post a higher high. Also The probability for ASI to move sideways is also high. ASI showed some sideways movement on the 25th.

BTW MILANKA looks good.

yes ASI 7320 is a key level according to my charts also Wink
but this wapo is killing every one.

gann

gann
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Hi Supun,

Thanks for sharing your analysis. I have noted some keypoints you had mentioned.
What do you think of MILANKA?

gann

gann
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Meta Trader wrote:

yes ASI 7320 is a key level according to my charts also Wink
but this wapo is killing every one.

APO WAPO EPO lol! lol! lol!

supun.perera

supun.perera
Stock Analytic
Stock Analytic

Observations on Milanka

1. Milanka has recovered above a major support line (6800), which had been strong in November and December as well (the green line).

2. Milanka started forming the double-top days before the ASI.

3. Despite the current Northern movement, the main trend still remains bearish (note the long blue trend line).

4. There seems to be a resistance around 7350 area. It has been clearly broken only in late September where high momentum was seen (note the trend line near late September and RSI above 70).

5. Milanka is still below the 38.2% level. The next key level would be the 61.8% (note the perfect alignment between the 61.8% level (7100) and the valley between the double-top. In addition, 7100 has been S/R since mid October).

6. RSI on Milanka has clearly moved out of the "oversold" area. Note that, at its worse, the RSI on Milanka has been around 18!


Analysis:
- The Milanka constituents were offered at good prices lately. This is the reason for the RSI to reach lows around 18. (RSI was low because of the stronger negative changes). But a Bullish trend is now evident from the last week's performance on Milanka (In addition, RSI currently hovers around 40-50).

- Milanka is sitting on a stable support (6800) and moving up. Its possible for it to consolidate around the 61.8% level. The current upward momentum could allow that (note the blue trend line starting from 22nd March). According to the crossing of the trend lines with the 61.8% level, and the upward pointing RSI, this could happen within this week itself (or early next week).

- In order to indicate real growth, Milanka needs to prove itself by clearly breaking above, on reaching the 61.8% level.

- IF Milanka can do so, then the only resistance level is at 7350. However, as seen in late September, this resistance can easily be broken if there is strong momentum. From last week's price action as well as current RSI value, such momentum is possible.

Conclusion
According to Milanka's performance, the market has potential for a strong upward momentum within the next two weeks.

This is just my personal view of the market, so guys pls don't hold me against this, ok. :)

(Click on image to view completely)
[You must be registered and logged in to see this image.]

supun.perera

supun.perera
Stock Analytic
Stock Analytic

gann wrote:Hi Supun,
Thanks for sharing your analysis. I have noted some keypoints you had mentioned.

you are welcome. Would like to know which keypoints interested you...

gann wrote:
What do you think of MILANKA?

Posted above.



Last edited by supun.perera on Mon Mar 28, 2011 11:48 am; edited 1 time in total (Reason for editing : typo)

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

All this is very well if the market upwards moves had been organic. As has been mentioned here many times it's been anything but. Even a couple of brokers acknowledged that the upwards movements had an artificial flavour to it (eg: NDB Stock brokers report published in the papers last week).

Even today it's obvious that someone is making a valiant effort to keep the index afloat but without much success.

supun.perera

supun.perera
Stock Analytic
Stock Analytic

tubal wrote:All this is very well if the market upwards moves had been organic. As has been mentioned here many times it's been anything but. Even a couple of brokers acknowledged that the upwards movements had an artificial flavour to it (eg: NDB Stock brokers report published in the papers last week).

What you say is quite true in real life.

However, my post was based on an interpretation of the charts and nothing else.

My view is to stick to ones own judgment/analysis, whilst acknowledging such artificial movements.
There are shepherds and then there are sheep... As per my understanding, there are two options for success in this kind of a market - either be a Shepherd OR be a Black Sheep :) (well... there is always the third option of being a broker)

I don't have the millions to become a shepherd (or a broker), so I rely more on technicals rather than fundamentals, hoping that it would make me more of a black-sheep.

I may be wrong here. But it keeps me sane and hopefully in profit. Just like you implied, if the price-action is not consistent with fundamentals, what other option do we have? In my opinion, its technicals. And hence this sub-forum for technical traders.

But fundamentals has its place on longer term views. No amount of manipulation will erase that!

I mean no offense to anyone. I merely wanted to clarify my position with regard to trading, even during artificial market conditions.

Green trades to all!

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics

supun.perera wrote:
gann wrote:Hi Supun,
Thanks for sharing your analysis. I have noted some keypoints you had mentioned.

you are welcome. Would like to know which keypoints interested you...

gann wrote:
What do you think of MILANKA?

Posted above.

Milanka index has gome up today.

gann

gann
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Aamiable wrote:

Milanka index has gome up today.

I would like to see MILANKA trading above 6900 to be optimistic bounce bounce

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics

gann wrote:
Aamiable wrote:

Milanka index has gome up today.

I would like to see MILANKA trading above 6900 to be optimistic bounce bounce

There some early indications. Banks have picked up today , some diversified blue chips and so on.

supun.perera

supun.perera
Stock Analytic
Stock Analytic

gann wrote:
I would like to see MILANKA trading above 6900 to be optimistic :bounce: :bounce:

yes.... 6900 is the 38.2% Fib level...

btw, Milanka is up only by 0.39 ... well.. at least it didn't go down... :scratch:



Last edited by supun.perera on Mon Mar 28, 2011 3:06 pm; edited 2 times in total (Reason for editing : correction)

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

Supun, et al, the point I am trying to raise is that both Technical analysis and Fundamental analysis in this market is equally useful (or useless take your pick).

I don't think you were around in early February, when some of us called a market top. The ASI continued to climb after that point and it looked like the call was wrong. But in actual fact the market continued to decline while the ASI kept going on up.

First the ASI went up because of the GREG group, then it was oil palm, then of course the notorious WAPO. if you look at the charts of individual stocks, you will find that almost all of them had their peak during the first 10 days of February. This phenomena was identified and reported here.

The the ASI started to dip, it actually started happening around the time that many of the shares found support levels. So once again the majority of the shares in the market kept going up while the index declined. The advance/decline ratio will show you that.

Even today, the intra day chart had many ups and downs. Compare that with the intraday charts of SLTL, CFIN, COMB and BUKI. WAPO no longer has the impact it used to have. But there are plenty of better and more subtle alternatives

gann

gann
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

supun.perera wrote:

Would like to know which keypoints interested you...

Once the 38.2% level is broken through, the next resistance could be 23.6% level (7498-7549 region).



The keypoint is relavance given to 23.6 based on previous pivot point.

chamith

chamith
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

[You must be registered and logged in to see this image.]
[CLICK ON THE GRAPH TO SEE THE REST]

According to my MACD analysis on ASI, its about to cross the line. SO hopefully we can expect the line to be crossed in couple of days. According to stochastic Oscillator clearly ASI have come up from over sold region. But its trend has been disturbed in last couple of days. So to be optimistic we can call it due to WAPO and some credit clearing issued caused that.

As a conclusion i feel that ASI is on the fence, with more advantage for upside movement. Next couple of days will bring us the initiation indicators of the movement. Hopefully should be green due to ; End of March credit clearing, UBC commencement, Most of the investors feel optimistic these days. Very Happy

supun.perera

supun.perera
Stock Analytic
Stock Analytic

tubal wrote:Supun, et al, the point I am trying to raise is that both Technical analysis and Fundamental analysis in this market is equally useful (or useless take your pick).
LOL yes....I agree that both have their uses.

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

Push up SLTL, JKH, DIAL, CFIN and COMB simultaneously and viola the index which was down 0.75% five minutes ago is now down only 0.1% push up BUKI, CARS and woah there the market is green yipeeeee!

Never mind that we have 100 counters that have declined while only 50 have gone up

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

Sorry guys small error. The second stage of the push didn't involve BUKI and CARS after all. It was SLTL being pushed up a little further and then HNB.

dimithri


Equity Analytic
Equity Analytic

chamith wrote:[You must be registered and logged in to see this image.]
[CLICK ON THE GRAPH TO SEE THE REST]

According to my MACD analysis on ASI, its about to cross the line. SO hopefully we can expect the line to be crossed in couple of days. According to stochastic Oscillator clearly ASI have come up from over sold region. But its trend has been disturbed in last couple of days. So to be optimistic we can call it due to WAPO and some credit clearing issued caused that.

As a conclusion i feel that ASI is on the fence, with more advantage for upside movement. Next couple of days will bring us the initiation indicators of the movement. Hopefully should be green due to ; End of March credit clearing, UBC commencement, Most of the investors feel optimistic these days. Very Happy


Hi Chamith, What is MACD?How to read it from the graph?

Sponsored content



Back to top  Message [Page 1 of 2]

Go to page : 1, 2  Next

Permissions in this forum:
You cannot reply to topics in this forum