Wednesday, May 5, 2010

ALSI 30 minutes chart

After spending whole April in trading range between 25600 and 26800 has ALSI finally decided to do something.

Yesterday it broke 25600 and then sell off accelerated, so in no time 25000 was tested. Target for above mentioned range is 1200 from 25600, giving us 24400 as a target. Main indicators bounced from oversold levels, but so far no major positive divergences can be spotted.

What can be seen is the new channel that is developing with some 900-1000 points in it. ALSI is currently closer to bottom line. Top line is currently coinciding with 25600, so there is possibility for ALSI to go and test that level.

Trade with trend!


Anonymous said...

How do I get updated information on the constituents of the index

Alsi Trader said...

If you wish to trade ALSI you should not worry much about constituents of the index. That information is available from JSE, but can't point to correct place on their web page. Recently they have upgraded web site and it is very difficult to find anything. You should contact them directly and they will provide you with the info.