Sep 052011

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, the stock is finally in what appears to be a fifth wave within a fifth. Already we have seen the third wave extend in the bigger picture. And within the fifth wave also, there is an extending third. So I am hoping that the pain investors in Agility are experiencing is in its final throes. I have quoted Samuel Taylor Coleridge! Sometimes you get these flashes of old memories! I read ST Coleridge for my English Literature Major some 30 years ago!! And all of a sudden, his words can be put into proper context here, in Wave Time. Enjoy! – Ramki

Jul 182011

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 these three Kuwait stocks, KFH, NBK and Zain are presented here for my friends in Kuwait.

May 042010

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 certainly possible for a brief set back, I expect fresh buying to emerge on any decent correction. When the broad market starts moving up, Zain should be among the leaders.

Apr 062010

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 the Waves!) I am not going to elaborate on what is already on the charts. Think the comments are quite self-explanatory. The first 4 charts are of  KGL (Kuwait & Gulf Link Transport Co) and the last one is of Boubyan Bank Kuwait.  Enjoy.

Dec 172009

NIG 17 Dec 2009National 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 recommending being on the alert to buy this stock for a move back to 830 area. Additional comments are on the chart.

Aug 162009

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: even if the wave count is wrong, there is more risk to the downside. So position accordingly. gulf 1
gulf 2
gulf 3

Aug 162009

ZAIN 16Aug09
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 stock remains well-bid and should it break above this line, we should have little difficulty in reaching 1.6750. Buy dips!

Dec 222008

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.

NBK (But read this along with the chart of early December below)

NBK (But read this along with the chart of early December below)

This is a chart I prepared on 2nd Dec 08

This is a chart I prepared on 2nd Dec 08


This is a chart of GFHK.

This is a chart of Zain, Kuwait


Dec 012008

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). Anyway, to cut a long story short, NIND dipped to 0.380 and is now looking well bid. Take a look at the accompanying chart for additional comments. (The chart of 14 Oct is also attached)

Related news: Moody’s places NIG’s Baa2 ratings under review for downgrade (29 Nov 2008). (And the stock is trading higher! Clearly, we should build our position only slowly on the pull back. A whole host of untenable reasons could sometimes push a stock higher. In the absence of sound fundamentals, our buying should be cautious)

Oct 142008

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. One reason could be that Kuwait did not witness a carnage like the rest of the world did. Its declines were more orderly. I have posted a bunch of charts and a brief note on some other Kuwaiti stocks. Share it with your friends and let me know if you have any questions. Best!  

 kuwait-stocks-14-oct-08; (there are 4 Kuwaiti stocks covered in this file)

kwse-14-oct-2008; (this is the index)

quick-update-14-oct-2008 (a brief look at several other Kuwaiti stocks)