KOSPI closes below its opening price unable to hold early session gains


Korea Composite Stock Price Index (KOSPI) Technical Analysis Report for Sep 16, 2020 | by Techniquant Editorial Team

Highlights

KOSPI closes below its opening price unable to hold early session gains
KOSPI closes within previous day's range after lackluster session

Overview

KOSPI ended Wednesday at 2435.92 losing ₩7.66 (-0.31%). Trading ₩7.81 higher after the open, the stock index was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on August 28th, KOSPI lost -1.17% on the following trading day. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily Candlestick Chart (KOSPI as at Sep 16, 2020):

Daily technical analysis candlestick chart for Korea Composite Stock Price Index (KOSPI) as at Sep 16, 2020

Wednesday's trading range has been ₩20.59 (0.84%), that's below the last trading month's daily average range of ₩32.07. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for KOSPI.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

With prices trading close to this year's high at 2458.17, upside momentum could speed up should the index be able to break out to new highs for the year.


Market Conditions for KOSPI as at Sep 16, 2020

Loading Market Conditions for KOSPI (Korea Composite Stock Price Index)...
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KOSPI closes within previous day's range

Sep 25, 2020
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