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Sri Lanka Equity Forum » Stock Market Talk » 13.02.2017 ASI Chart

13.02.2017 ASI Chart

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1 13.02.2017 ASI Chart on Mon Feb 13, 2017 1:35 pm

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Technical Break-out 

2 Re: 13.02.2017 ASI Chart on Mon Feb 13, 2017 2:24 pm

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Chart eka Kaduwak kiyapu Baiyata dan sanipa athi...

3 Re: 13.02.2017 ASI Chart on Mon Feb 13, 2017 4:57 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@stockback
Can you explain your latest chart please.
Thx

4 Re: 13.02.2017 ASI Chart on Mon Feb 13, 2017 5:18 pm

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Falling Wedge
The falling wedge is a generally bullish pattern signaling that one will likely see the price break upwards through the wedge and move into an uptrend. The trendlines of this pattern converge, with both being slanted in a downward direction as the price is trading in a downtrend.


Figure 1: Falling wedge pattern


From the above, one can see that a wedge is similar to the triangles, in that the price movement bounces between the two trendlines, which are bounding the price movement.

Another thing to look at in the falling wedge is that the upper (or resistance) trendline should have a sharper slope than the support level in the wedge construction. When the lower (or support) trendline is clearly flatter as the pattern forms, it signals that selling pressure is waning, as sellers have trouble pushing the price down further each time the security is under pressure.

The price movement in the wedge should at minimum test both the support trendline and the resistance trendline twice during the life of the wedge. The more times it tests each level, especially on the resistance end, the higher quality the wedge pattern is thought to be.

The buy signal is formed when the price breaks through the upper resistance line. This breakout move should be on heavier volume, but due to the longer-term nature of this pattern, it's important that the price has successive closes above the resistance line.

Read more: Analyzing Chart Patterns: The Wedge | Investopedia http://www.investopedia.com/university/charts/charts7.asp#ixzz4YZ68Gepq 

5 Re: 13.02.2017 ASI Chart on Mon Feb 13, 2017 5:20 pm

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Lower Line is Support Line.
Upper Line is Resistance Line.

according to my chart. Upper Line is broken now. that means resistance is broken now.

6 Re: 13.02.2017 ASI Chart on Tue Feb 14, 2017 7:45 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Thank you for your explanation. 
Explanation of charts will focus the attention of readers as most are out of touch the technical aspects.

7 Re: 13.02.2017 ASI Chart on Sun Feb 19, 2017 10:23 pm

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
last two days bit red days. I hope this week market move another 50-60 units.

specially Bank reports are on the way. we can expect better result from Banks sector...

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