NYSE Composite (NYA.NDX)

Short term

NYSE Composite shows strong development within a rising trend channel in the short term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The index has broken up through resistance at points 19900. This predicts a further rise. Positive volume balance indicates that buyers are aggressive while sellers are passive, and strengthens the index. RSI above 70 shows that the index has strong positive momentum in the short term. Investors have steadily paid more to buy the index, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The RSI curve shows a rising trend, which supports the positive trend. The index is overall assessed as technically positive for the short term.

Recommendation one to six weeks: Positive

Medium term

NYSE Composite 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 18300 points. Positive volume balance shows that volume is higher on days with rising prices than days with falling prices. This indicates increasing optimism among investors. The index is overall assessed as technically positive for the medium long term.

Recommendation one to six months: Positive

Long term

Investors have paid higher prices over time to buy NYSE Composite and the index is in a rising trend channel in the long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 16675. The objective at 18609 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 17200 points. The index is overall assessed as technically positive for the long term.

Recommendation one to six quarters: Positive