Kospi 100 Hits Initial Price Target, More Upside Ahead

Guy Cerundolo

The base pattern that Korea’s Kospi 100 came out of is very bullish.

We highlight the initial target being hit this week, as this is a zone that we can expect a short-term pause/pullback.

Aggressive traders can take some profits here and buy a pullback.

Longer-term traders / active investors may want to stay long (and/or trade around positions) for our next target of 2550.

We are still bullish on the Kospi and Korean stocks from a trend trading stand point, we just want investors to be aware of a potential pullback here.

Here’s the chart with analysis.

Kospi 100 Chart

kospi 100 stock market index rally price targets higher _  january 2020

The author may hold positions in mentioned securities at the time of publication.  Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.