The CSI 300 rose 3.41% on higher but below average volume this week. The market was shifted to a Confirmed Uptrend Monday as the index rose 2.43% on much higher volume and broke above the 21-DMA. The index managed to hold above its 21-DMA (~5,050, -1.7%) for the following four sessions, with next support at the 200-DMA (4,975, -3.1%). The next level of resistance lies at the declining 50-DMA (~5,200, +1.3%).
Symbol: EMP.TW
Global Focus Emerging
The CSI 300 fell 1.37% on higher but lower-than-average volume. The market remains in a Rally Attempt. The index was testing support at its 200-DMA (4,950, -0.3%), with next support at the previous low of March 25 (4,884, -1.66%). Immediate resistance lies at the declining 21-DMA (5035, +1.4%).
Global Focus Emerging
The CSI 300 fell 2.45% on lower volume and remains in Rally Attempt. The index trended down and breached the 21-DMA (5,069, +0.7%). The next level of support is the 200-DMA (4,927, -2.1%) and the next level of resistance is the 100-DMA (5,207, +3.4%).
Global Focus Emerging
The CSI 300 rose 1.44% on lower volume in the first four trading sessions of the week. The market was shifted to a Rally Attempt Monday. The index consolidated and broke above its declining 21-DMA (5,071, -0.8%) Thursday, with next support at the 200-DMA (4,900, -4.1%). Immediate resistance lies at the 100-DMA (~5,200, +1.7%).
Global Focus Emerging
The CSI 300 rose 0.62% on lower volume on a weekly basis after a sharp fall for six consecutive weeks. The market was shifted to a Downtrend Thursday as the index fell below March 9’s previous low of 4,917. The index trended downward for three sessions but rebounded strongly Friday, with resistance at its 21-DMA (~5,130, +1.8%) and the next level of support at the 200-DMA (~4,880, -3.1%).
Global Focus Emerging
The CSI 300 fell 2.71% on lower volume and remains in a Rally Attempt. The index was range-bound throughout the week and challenging resistance at the 100-DMA (~5,170, +3.3%), with next support at the 200-DMA (4,850, -3.1%).
Global Focus Emerging
The CSI 300 fell 2.21% on slightly higher and above average volume. The market was shifted to a Downtrend Monday then to a Rally Attempt Friday. The index breached its 100-DMA Monday, reached a near-three-month low Tuesday, and rebounded for the last three sessions. The index was challenging resistance at the 100- DMA (5,157, +0.2%), with next support at the 200-DMA (4,821, -6.3%).
Global Focus Emerging
The CSI 300 fell 1.39% on lower volume. The market remains in an Uptrend Under Pressure; the number of distribution days increased to seven. The index traded around the 50-DMA (~5,400, +2.6%), with immediate support at the 100-DMA (5,143, -2.3%).
Global Focus Emerging
The CSI 300 fell 7.65% on significantly higher volume. The market was shifted to an Uptrend Under Pressure with the number of distribution days decreasing to six. The index trended downward and breached below its 21- and 50-DMA (5,364, +0.5%), with next support at the 100-DMA (5,104, -4.4%).
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 staged an upside reversal off 50-DMA support (3,797) before closing positive on the session and snapping a five-day losing streak. The Nasdaq also staged an upside reversal after opening below its 50-DMA (13,246), however, the index still closed slightly lower on the session and below 21-DMA resistance (13,674). The distribution day count now stands at four each, with one day expiring on the S&P 500 Friday.
