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CSE All Share Price IndexCSE All Share Price IndexCSE All Share Price Index

CSE All Share Price Index

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🇱🇰 ASI NEXT PROJECTION WITH MARKET REACTIONASI has indeed shown a breakout and subsequent pullback within the bullish structure identified on the hourly timeframe. We are currently in a phase of anticipation, expecting the price to acknowledge the breached trend line as a support given the recent pullback formation. However, if the price fails to respond positively to the trend line as a support, we could witness a further decline. This decline has the potential to push the price of ASI back inside the established structure and even prompt a revisit towards the support level.
CSELK:ASILong
by Profitlio_
🇱🇰 ASI LONG PROJECTIONOn the hourly timeframe, ASI is currently moving within a bearish channel. A false breakout occurred at the hourly support level, leading to a reversal back towards the upper boundary of the channel. The lower highs formed by ASI within the bearish channel indicate a short-term bearish momentum. The recent price reversal respected the upper boundary of the channel, reinforcing the bearish trend. To anticipate a potential upward rally, it is essential to await confirmation of a bullish breakout. Until such confirmation occurs, the prevailing expectation is for the bearish momentum to persist within the established channel.
CSELK:ASILong
by Profitlio_
ASICSELK:ASI This chart and analysis are not financial advice. Do your own research before trading or investing. The ASI continues to hold above the 10-day moving average (DMA) and the support zone ranging from 10800 to 10875. The upcoming challenge lies at the resistance level of 10960-11120, where the index is expected to encounter the DMA 50. This zone presents a formidable barrier and should be regarded as a robust resistance level. However, buoyed by positive Q results and the 2024 budget proposal, there is a potential for the index to breach this resistance zone effortlessly. Caution is advised, and close monitoring of the situation is crucial. Analyzing the Relative Strength Index (RSI) indicator reveals a recent break below Trendline #3, followed by a descent. The RSI is now poised for an upward breakthrough, and if successful, it could signal a strong upward movement toward Trendline #4. Vigilance in observing these technical indicators is paramount.
CSELK:ASI
by Captain_Pathum
ASICSELK:ASI This chart and analysis are not financial advice. Do your own research before trading or investing. The market index concluded the session within the support range of 10800-10875, with the 10-day moving average (DMA) situated in this zone as well. Sustaining this level is crucial, as a failure to do so may lead the index to descend towards the 10450-10550 range. However, before reaching this lower range, the index is anticipated to find support from the trend line. Regarding the Relative Strength Index (RSI) indicator, the second trend line (TL #2) was breached to the upside during the session, but by the end of the day, the index failed to maintain this level.
CSELK:ASI
by Captain_Pathum
ASICSELK:ASI This chart and analysis are not financial advice. Do your own research before trading or investing. At the close of the day, the 'ASI' index displayed strength as it closed within a robust support range of 10800-10875. If this momentum continues, we anticipate encountering the next significant resistance zone between 10960 and 11120, coinciding with the DMA 50. Maintaining a position above the 10 DMA (Daily Moving Average) and RL #1 is vital at this moment. Examining the RSI indicator, immediate support can be found around TL #3. Closing above TL #5 after surpassing TL #2 will indicate a clean and decisive upward movement.
CSELK:ASI
by Captain_Pathum
ASI - All Share IndexThis chart and analysis are not financial advice. Do your own research before trading or investing. CSELK:ASI Despite the bearish tone on the weekly chart with a red candle, the daily chart paints a more optimistic picture as it closed with an engulfing bullish candle. Notably, the daily candle successfully closed above the 10-day moving average (DMA), indicating short-term strength. However, challenges remain as the immediate resistance level stands firm at 10,874.27, and it's noteworthy that a short-term (ST) resistance trend line converges with this point. Beyond this immediate hurdle, attention shifts to the next resistance zone within the range of 10,960 to 11,120. Turning our focus to the daily chart, it's worth mentioning that Trendline #1 (TL #1) offers crucial support to the Relative Strength Index (RSI). Although Trendline #3 (TL #3) was tested, it wasn't breached by the price, suggesting it might serve as a notable resistance level.
CSELK:ASI
by Captain_Pathum
ASI - All Share IndexThis chart and analysis are not financial advice. Do your own research before trading or investing. CSELK:ASI After a "Gravestone Doji Candle" closed the previous day, the index saw a red candle, finding support at the 10-day moving average. The next immediate support is at 10662.30, with a broader support zone between 10450-10550. This could be viewed as a retest of a Fibonacci level, indicating a potential trend reversal. The Relative Strength Index (RSI) broke through TL#3 and is now looking for support from TL#1. It's crucial to closely monitor these developments for insights into market trends.
CSELK:ASI
by Captain_Pathum
ASI - All Share IndexCSELK:ASI This chart and analysis are not financial advice. Do your own research before trading or investing. In the weekly chart, the index closed with a bullish green candle, finding strong support within the 10450-10550 range. Additionally, the RSI indicator respected its supporting trend line. Shifting to the daily chart, a robust green candle formed, breaking through the immediate resistance at 10847.27. The next key resistance zone for the index lies between 10960 and 11120, coinciding with the expected meeting point of the 10-day moving average (DMA). Intriguingly, the RSI indicator on the daily chart exhibited promise as the index found support at Trend Line #4 and managed to break and close above both Trend Lines #1 and #3. The ultimate signal for a confirmed upward trend will be when Trend Line #2 is successfully breached.
CSELK:ASI
by Captain_Pathum
ASI - All Share IndexThis chart and analysis are not financial advice. Do your own research before trading or investing. CSELK:ASI The index showed a positive sign as it concluded the day with a green candle, following four consecutive days of red candles. Notably, it displayed resilience around the support zone of 10,450-10,550, where the crucial Fibonacci 0.382 level is situated. The immediate challenge for the index is breaching the resistance level at 10,662.30. Examining the daily RSI indicator, it found support from Trend Line #4, and the next hurdle is breaking through the immediate resistance represented by Trend Line #1. On a weekly scale, the RSI index is currently seeking support from a key supporting trend line, underscoring the significance of this juncture in the market's behavior.
CSELK:ASI
by Captain_Pathum
ASI - All Share IndexThis chart and analysis are not financial advice. Do your own research before trading or investing. 01. ASI has recently closed with a red candlestick pattern, indicating a potential bearish move. A crucial milestone for the next upward trend is breaking through resistance level #1. 02. The region between resistance levels #2 and #3 holds significant importance due to the convergence of technical factors. This area includes the neckline of a Cup and Handle (CnH) pattern and the 50-day moving average on the daily chart, making it a notable confluence zone. 03. To sustain its momentum, the RSI (Relative Strength Index) indicator should find support at trendline (TL) #3. Early indications of a breakout could emerge if the RSI successfully breaches trendlines #2 and #1.
CSELK:ASI
by Captain_Pathum