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Investtech Indices
Sydney (SYDNEY.NDX)
Close: 8 633.10 (+66.10), Nov 22, 2024
Positive
Overall analysis
Sydney is technically positive for the short, medium, as well as the long term.Recommendation one to six months: Positive
Short term
Sydney is in a rising trend channel in the short term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. The index has marginally broken up through resistance at points 8620. An established break predicts a further rise. The index is assessed as technically positive for the short term.Recommendation one to six weeks: Positive
Medium term
Sydney is in a rising trend channel in the medium long term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 8370 points. Trading volume has increased substantially lately. This shows there is an increased interest for the index, possibly because of fundamental news. The index is overall assessed as technically positive for the medium long term.Recommendation one to six months: Positive
Long term
Sydney shows strong development within a rising trend channel in the long term. This signals increasing optimism among investors and indicates continued rise. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 7591. The objective at 8302 is now met, but the formation still gives a signal in the same direction. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 7800 points. Trading volume has increased substantially lately, which may be because of fundamental news. The index is overall assessed as technically positive for the long term.Recommendation one to six quarters: Positive
Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer.
The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.
Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer.
The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.
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