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Technical Analysis - KLSE CI your feedback

Updated on Monday February 28, 2000

Trendline studies & Elliot Wave Target

Upward trendline seems to have been broken to the downside and this suggests that the rally is now ripe for a mininum 0.33 (one third of the rally 680 to 1013) Elliot Wave target of aprroximately 900 (peak 1013 minus one third of the rally which is 0.33*(1013-680)=about 100; thus 1013-100=about 900 is the mininum Elliot Wave target for this possible downtrend). All this will be negated if KLSE CI manages to break new high (break above 1013) but the odds could be against KLSE CI to achieve this in the short-run (i.e. less than two weeks).

 

 

Writer's own customised indicators

Uptrend's reconfirmation point (buyback point) is 1013, cut loss points are 961 (rally exit indicator) and 954 (dow's point). If the above-mentioned cut loss points is/are broken to the downside, then this rally from 680 is confirmed ended. In case KLSE CI may or may not drop further, 852 is the quick (a few days' rise) technical rebound's support level.

Download auto-calculation spreadsheet programme incorporated with these indicators (about 950KB)

Theoretical discussion on these indicators