You might be inclined to pass up on reading this post because Agility is not a stock you are even remotely interested in! But there is a lesson here for every Elliott Wave enthusiast. So take the couple of minutes and quickly see what the charts show you. After a precipitous decline from over 3000,…
Continue reading →Its been a long time since I looked at Kuwaiti stocks, and just yesterday the index has fallen to a new seven-year low! As most players in this market know, Zain and NBK are considered as bellwether stocks. Kuwait Finance House, or KFH, is another popular stock that many people own. Elliott Wave Analysis of…
Continue reading →From an Elliott Wave perspective, the outlook for Zain hasn’t changed much since I updated last. After correcting the prior 5-wave rally, the stock has taken off nicely like a 3rd wave should, ie on good volume and at a brisk pace. Some investors are worried because of the recent sideways movement. While it is…
Continue reading →It has been quite a while since I posted technical comments on Kuwait stocks. So here are some charts that may be of interest to some of you. (Even if you don’t have any interest in Kuwait, you should look at the these charts because they give you additional practice of how one can read…
Continue reading →National Industries Group stock has come down a lot in the last several months. But we can decipher a clear five wave movement having been completed at the lows. The first leg of a 3-wave correction has already been completed, and the second leg is probably already over, or very near completion. Thus, I am…
Continue reading →Anyone who has been investing in Kuwait would have heard of the travails of Gulf Bank in recent times. Perhaps one should view the moves after it started trading again in April 2009 as a new stock. The attached chart gives you an elliott wave analysis persperctive of Gulf Bank. The bottom line is this:…
Continue reading →There has been a lot of chatter in the market about a possible offer from overseas for a large chunk of ZAIN, the premier telecom company based in Kuwait. So I decided to provide a quick technical update on this stock. As you will observe, Zain is trading close to a downtrend line. But the…
Continue reading →Many readers from Kuwait have expressed concern about the stock market there. The Government has promised a rescue of some sort, and traders are eagerly waiting for some State sponsored buying of stocks. Meanwhile, many blue chip stocks are continuing to decline, and we take a look at NBK, GFHK and Zain today
Continue reading →On 14th October, I had warned that National Industries (a leading Kuwaiti stock) would come off by more than 30% from its current level. It was trading at 0.850. The reason for that call was the stock had finished an extended fifth wave, (an Elliott wave setup that has been extensively discussed in this blog recently).
Continue reading →While the stock markets in the rest of the GCC have surged in tandem with the rest of the world, one might wonder why the moves in Kuwait are so hesitant.
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