April 6, 2018
Shanghai Stock Chart Analysis
000001.SS China Shanghai Stock Exchange Composite Index and Fibonacci Extension
Study Shanghai Stock Index, 000001.SS using Fibonacci Extension swing low to high, we see the price action retest the bullish narrow channel again. The price action was breakout below the channel, but the price action was supported by the 38% and bounced up. The price action was bounced up and hit the 127%.
The index fail to stay high, on end January the price action start to have sharp fall, the price action was supported by 78%, however, support turns resistance. See chart, the 38% support has turned resistance to stop the price action to move north. We will see can the price action supported by the 78%. As we comment in our last posting, we see a potential bearish ABCD pattern, the price action is on the CD leg.
Manage your risk!
Powerful Chart Software – AmiBroker
The following chart is produced using AmiBroker charting software. It is a powerful chart software. Anything, finance ticket you could download from Yahoo! Finance you could plot them, those you are interested all in a chart, so you could analyse them.
April 06, 2018 Shanghai Stock Exchange Composite Index and Fibo Extension Low to High
Moses China Stock Chart Analysis
AmiBrokerAcademy.com
Disclaimer
The above result is for illustration purpose. It is not meant to be used for buy or sell decision. We do not recommend any particular stocks. If particular stocks of such are mentioned, they are meant as demonstration of Amibroker as a powerful charting software and MACD. Amibroker can program to scan the stocks for buy and sell signals.
These are script generated signals. Not all scan results are shown here. The MACD signal should use with price action. Users must understand what MACD and price action are all about before using them. If necessary you should attend a course to learn more on Technical Analysis (TA) and Moving Average Convergence Divergence, MACD.
Once again, the website does not guarantee any results or investment return based on the information and instruction you have read here. It should be used as learning aids only and if you decide to trade real money, all trading decision should be your own.