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📈 A Brief Analysis of the S&P Sri Lanka 20 (SPLK20LP): Tracking Market Giants 🇱🇰
The S&P Sri Lanka 20 (SPLK20LP) index serves as a key indicator of Sri Lanka's stock market health, featuring the top 20 largest and most liquid companies listed on the Colombo Stock Exchange (CSE).
Market Overview: On September 20, 2024, the S&P Sri Lanka 20 closed at 3,102.20, marking an increase of +40.44 points (+1.32%).
Stay informed with our technical analysis to navigate the market trends effectively!
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Applying Bollinger Bands to Analyze NVIDIA Corporation: A Technical Analysis Approach
NVIDIA Corporation (NVDA) is a leading technology company renowned for its graphics processing units (GPUs) and artificial intelligence (AI) solutions.
Originally known for its high-performance graphics cards for gaming and professional markets, NVIDIA has diversified into areas such as AI, data center solutions, and automotive technology.
The gold market (XAU) is set to open soon, and it’s crucial to stay ahead of the game! 📉📈
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🗓️ Market Opening Time : Sydney at 2:00 AM UAE time & 3:30 AM Sri Lanka time on Sunday.
🔍 Why You Should Watch Gold Right Now:
• MA7 Indicator: Watch for how gold’s price interacts with the 7-day moving average (MA7). A price above MA7 could signal a bullish trend, while a price below might suggest bearish sentiment.
• Key Levels: Pay attention to potential support and resistance levels a
Sri Lanka's inflation rate, measured by the Colombo Consumer Price Index (CCPI), has dropped significantly to 0.5% year-on-year in August 2024, down from 2.4% in July 2024.
Food inflation has settled at 0.8%, while non-food inflation stands at 0.4%.
This sharp decrease highlights the ongoing efforts to stabilise prices and could signal a positive trend for the economy.
Gold Analysis: Will Gold Break New Historical Levels? - 28 August 2024
Yesterday, the gold price fell towards the support level of $2,503 per ounce but quickly rebounded to stabilize around the resistance level of $2,525 per ounce.
Initial support is around $2,485/oz. followed by $2,450/oz. Gold Daily Price Chart Retail trader data shows 53.66% of traders are net-long with the ratio of traders long to short at 1.16 to 1.The number of traders net-long is 10.14% higher than yesterday and 13.05% higher from last week, while the number of traders net-short is 5.69% lower than yesterday and 9.76% lower from last week.
Gold Analysis: Will Gold Break New Historical Levels? - 28 August 2024
Yesterday, the gold price fell towards the support level of $2,503 per ounce but quickly rebounded to stabilize around the resistance level of $2,525 per ounce.
Initial support is around $2,485/oz. followed by $2,450/oz. Gold Daily Price Chart Retail trader data shows 53.66% of traders are net-long with the ratio of traders long to short at 1.16 to 1.The number of traders net-long is 10.14% higher than yesterday and 13.05% higher from last week,
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we pride ourselves on our multi-faceted approach to business support. With a diverse range of specialized departments, we offer expertise in investment, corporate services, HR outsourcing, digital marketing, and more. Our mission is to help businesses thrive by providing the tools, strategies, and support they need to succeed in today's competitive market.
The Fibonacci tool is mainly used in trading in two ways:
RETRACEMENT and EXTENSION.
1️⃣ The retracements predicts where the price will pullback to (entry levels). 2️⃣ The Extension predicts the levels that the price will push to beyond the initial trend (exit levels).
Identify swings to find Fibonacci retracement levels. Identify the recent Swing Highs (SH) and Swing Lows (SL).
↗️ UPTRENDS: start from Swing LOW to Swing HIGH. ↘️ DOWNTRENDS: start from Swing HIGH to Swing LOW.
➡️ When the price returns to the 0.5%-0.62% area you can look for buys (uptrend) or sells (downtrend).
The double top pattern is a technical analysis chart pattern used in trading to signal a potential reversal in a security's price trend. It is characterized by:
Two Peaks: The pattern consists of two prominent peaks at approximately the same price level, separated by a trough or dip.
Support Level: A support level is formed at the lowest point between the two peaks, known as the "neckline."
Bearish Reversal Signal: After the formation of the second peak, if the price breaks below the support level (neckline), it often signals a bearish reversal and a potential downtrend.
Traders use this pattern to predict that an uptrend may be ending, and the price might start to decline.