Current Closing
(as at 16th January 2015)
|
1743.57
|
Projection Closing
(as at 23th January 2015)
|
1730
|
Recommendation
|
Sell
|
Resistance
|
1st Resistant 1770 (Price
Pattern Resistant)
2nd Resistant 1818 (38%
Retracement)
3rd Support 1832 (50%
Retracement)
4th Support 1847 (62%
Retracement)
5th Support 1895
(52-week high, 100% Retracement)
|
Support
|
1st Support 1722 (38% Retracement)
2nd Support 1707 (50% Retracement)
3rd Support 1692 (62% Retracement)
4th Support 1672 (52-week low)
5th Support 1645 (Price Pattern Support, 100%
Retracement)
|
Medium Term Trend
|
Down Trend
·
Triple
Top Breakout
·
Death
Cross Confirm
·
Violation
of Long Up Trend
o
Length
of the trendline more than 3 years
o
Trendline
has been touched for 5 times
o
Flat trendline
o
Base
on the measuring, the price might drop till 1580
|
Momentum Analysis
|
·
MACD
o Overbought Signal
o MACD line fall below the zero line,
suggests long-term market sentiment is bearish
·
Rate
of Change
o Bearish Signal
§ Negative Divergence
·
Almost
no upside momentum when price reach 52-week high
·
Confirm
with Uptrend line violation in price
·
Confirm
with Moving Average Penetration
o Death Cross Confirm
|
Volume Analysis
|
·
Rising
Volume with Falling Prices
o Bearish Signal
·
Rising
Price with Falling Volume
o Weak and “suspected” rally
o Market up due to lack of selling pressures
o Price will fall substantially
|
Disclaimer: This is not buy calls, all the info shared here are for sharing purpose only. Trade at your own risk.
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