The KOSPI index, which started rising in January 2023 with the inverse head and shoulders pattern formed by triple bottom.

 

Let's take a look at the KOSPI index in January, which started with an upward trend in 2023, and check the triple bottom inverse head and shoulders pattern through the chart.

2022 stock market closed down. The stock market has been down since the beginning of the year in 2022. The KOSPI index has fallen by 741.25 points (24.9%) compared to the end of 2021. The KOSDAQ index fell 354.69 points (34.3%) compared to the end of 21. The major indices fell all at once. This is the largest drop since the 2008 financial crisis.

In January 2023, the stock market started higher. If you look at the stock market January status that started again in 2023, both the KOSPI index and the KOSDAQ index have risen. In the first week of January, an inverse Head and Shoulders pattern occurred. The stock market started higher at the beginning of the year. In January 2023, the stock index rose as the inverse Head and Shoulders pattern occurred.

In 2023, a triple bottom reverse head and shoulders pattern was confirmed in the KOSPI index. If you look at the KOSPI weekly chart until January 2023, you can see that in the first week of January 2023, the triple low, that is triple bottom, was formed. The triple bottom pattern with a head and shoulders shape is called an inverted head and shoulders pattern.

The reason for the rise in the KOSPI index is the expectation of a easing of interest rate hikes and an easing of inflation. In the early stage of the rise, the stock market has a greater effect on expectations than performance. This is because stock prices precede the economy. Looking at the risk factors of the KOSPI index. The unstable bond market and the financial crunch, and the stock market, which is sensitive to diplomacy and security, could be the risk factors for the KOSPI.

2022 stock market closed down. In January 2023, which started again, the stock market started rising. In the 2023 KOSPI index chart, you can see the triple bottom, inverse head and shoulders pattern. The KOSPI index started with an increase, we need to analyze the cause of the rise in the KOSPI index and pay attention to risk factors. It is necessary to pay attention to the current trend of the KOSPI index, which started rising in 2023.