ASI Index and Us

smallville · 1 ASI Index and Us Wed Jun 22, 2011 6:39 pm

smallville

Associate Director - Equity Analytics

Posts : 4119
Equity Stars : 10095
Reputation : 530
Join date : 2011-02-03
Location : Back on Earth

Guys,

The following is taken from DirectFN as of 22-06-11 (today)'s data.. We're on the verge of breaking or bouncing back from a support level of 6900.. What I've mentioned as expected candle - is derived from the few swing low kinda patterns I've seen earlier (circles 1,2,3). Thought those were not perfect swings, somewhat involved in reversing the trend..
So if we get a similar bullish candle EOD trading tomorrow we can have few days green market.. And if ASI doesn't touch 6900 may be bulls can take control..

ASI Index and Us Asi-210

And this is ASI taken from Yahoo as of 21-06-11.. Index has been in declining trend since 7400
All support levels broken but 20 day SAM/EMA both are above the current index level..
Still Stochastics, RSI need to go above a bit to confirm an uptrend..

ASI Index and Us Asi10

NOTE : - Hoping that SEC wont play games on investors anymore, I'm somewhat optimistic towards the end of the month and July so may be my vision is biased or blind.. So this is just for your viewing pleasure only No ROSE GARDENS PROMISED

mark · 2 Re: ASI Index and Us Wed Jun 22, 2011 7:36 pm

mark

Expert

Posts : 2677
Equity Stars : 9739
Reputation : 423
Join date : 2011-02-04
Age : 33
Location : Hell....

excellent,my view is that market will rebound when it pass down 6900 level, tmrw may be green in the morning and it may be red afterwards......but high possibility is market would regain in next week......this is time to collect or re enter base.,my advise is to buy shares which came down rapidly in last days which are with good foundations,
rep from me to bring this out

optimistic · 3 Re: ASI Index and Us Wed Jun 22, 2011 9:31 pm

optimistic

Manager - Equity Analytics

Posts : 118
Equity Stars : 5051
Reputation : 29
Join date : 2011-01-27
Age : 36
Location : Colombo

this is not relevant to your topic. but i didnt want to open another thread because i may be wrong in my observation. i checked the moving averages for RICH. it seems like longer average is going to converge with the shorter average. this may last for a while from the looks of it. so it could stay bullish and may see an uptrend of a few cents. should be interesting to see what going to happen the next 2 weeks. there should be atleast some resistance to this free fall right. correct me if i am wrong.

smallville · 4 Re: ASI Index and Us Wed Jun 22, 2011 10:49 pm

smallville

Associate Director - Equity Analytics

Posts : 4119
Equity Stars : 10095
Reputation : 530
Join date : 2011-02-03
Location : Back on Earth

optimistic wrote:this is not relevant to your topic. but i didnt want to open another thread because i may be wrong in my observation. i checked the moving averages for RICH. it seems like longer average is going to converge with the shorter average. this may last for a while from the looks of it. so it could stay bullish and may see an uptrend of a few cents. should be interesting to see what going to happen the next 2 weeks. there should be atleast some resistance to this free fall right. correct me if i am wrong.

EMA & MA crosses above the signal line of MACD but as a whole MACD & TEAM both below the line. Also Stochastics doesn't show a reversal trend.. So its a waiting game I suppose..

Chinwi · 5 Re: ASI Index and Us Thu Jun 23, 2011 11:17 pm

Chinwi

Associate Director - Equity Analytics

Posts : 3097
Equity Stars : 8949
Reputation : 418
Join date : 2010-06-08
Location : Asia

Yes, MACD is still not favorable. In general, it is a waiting game.

What I believe is these graphs show what happened and not the future. At CSE, a big fella or fund with some money can change all these theories.

Also, for me, the Index figures including all resulting averages and bands are not correct here in CSE. Current Downward rate of our index is a result of collapsing of artificially pushed useless shares. Again, people sold good shares to pay for others.

optimistic · 6 Re: ASI Index and Us Thu Jun 23, 2011 11:30 pm

optimistic

Manager - Equity Analytics

Posts : 118
Equity Stars : 5051
Reputation : 29
Join date : 2011-01-27
Age : 36
Location : Colombo

after analyzing the MACD's of most of the shares that went up recently, i was able to notice that there were tall spikes few days after the shorter average crosses over and moves above the longer average. the period that it takes for the stock to record a high could be anywhere between 3-30 days after this happens. some went up immediately after the cross over, some took time. and i was thinking why didnt i see this before, why didnt i even bother to learn? or maybe i'm seeing this thing entirely wrong.