Monthly timeframe seems to be forming a symmetrical triangle with PA resting just above the 200 EMA. Relative strength index in a make or break position where we will bounce from over a decades support, or breakdown and visit oversold conditions. Fisher is at the lows and looking to start pointing up. We are also looking at a potential double bottom with the covid lows.
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From a fundamental aspect the index has been one of the worst performing globally over the past year (17.5% down) and has become completely detached. 9.3 P/E ratio compared to 18 ish for the S&P 500. Also is below 5 year average which is attractive looking at things on a longer time frame.Not
Zoomed into the daily we see a well established descending channel. We are watching for a potential triple bottom with a nice hammer candle. RSI approaching oversold conditions but not quite there yet. Bullish shark formed
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.