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Sri Lanka Equity Forum » Stock Market Talk » TECHNICAL ANALYSIS REPORT FOR JUNE

TECHNICAL ANALYSIS REPORT FOR JUNE

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1 TECHNICAL ANALYSIS REPORT FOR JUNE on Fri Jun 15, 2018 7:24 am

ruwan326

avatar
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
On the weekly chart, the pattern appears to be a consolidation pattern with an A-B-C formation with the "C"wave currently in progress.This consolidation occurred after a rally in index which took the prices from 5800 to 6700 levels. With the important momentum oscillator being highly OVERSOLD, one can expect resumption in the rally of Index.On downside 6200-6250 is expected to act as an important support from where Sri Lanka index is expected to bounce.AS OF NOW WE DO NOT SEE ANY TECHNICAL EVIDENCE WHICH INDICATES A BEARISH TREND IN THE INDEX.Only a monthly close below 6200 will prove us wrong,this is a Classical BUY ON DIPS market Twisted Evil Twisted Evil Twisted Evil
...........................

What is 'Buy The Dips'

"Buy the dips" is a slang phrase referring to the practice of purchasing stocks following a decline in prices. After a significant dip in the price of a security or stock index, investors should increase positions or purchase different stocks to capitalize on what is seen as an eventual upswing.

................................................................

2 Re: TECHNICAL ANALYSIS REPORT FOR JUNE on Sat Jun 16, 2018 9:30 am

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
All depends on the Political Analysis report and Political swing.

3 Re: TECHNICAL ANALYSIS REPORT FOR JUNE on Sat Jun 16, 2018 10:34 am

glad


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@samaritan wrote:All depends on the Political Analysis report and Political swing.
Hope the strong technical swing nullify the political swing !!!!

4 Time to cash in Yesterday at 2:40 pm

ruwan326

avatar
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@ruwan326 wrote:On the weekly chart, the pattern appears to be a consolidation pattern with an A-B-C formation with the "C"wave currently in progress.This consolidation occurred after a rally in index which took the prices from 5800 to 6700 levels. With the important momentum oscillator being highly OVERSOLD, one can expect resumption in the rally of Index.On downside 6200-6250 is expected to act as an important support from where Sri Lanka index is expected to bounce.AS OF NOW WE DO NOT SEE ANY TECHNICAL EVIDENCE WHICH INDICATES A BEARISH TREND IN THE INDEX.Only a monthly close below 6200 will prove us wrong,this is a Classical BUY ON DIPS market Twisted Evil Twisted Evil Twisted Evil
...........................

What is 'Buy The Dips'



"Buy the dips" is a slang phrase referring to the practice of purchasing stocks following a decline in prices. After a significant dip in the price of a security or stock index, investors should increase positions or purchase different stocks to capitalize on what is seen as an eventual upswing.

................................................................
Seems over sold is almost over, 6200 will not be tested Rolling Eyes
Hope you all collected Dips and next week we might see the end of suffering rendeer rendeer rendeer rendeer santa santa santa santa

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