NASDAQ is in a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. 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 16500 points. The short term momentum of the index is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for NASDAQ. 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 index is overall assessed as technically positive for the medium long term.
Extended analysis
Investors have paid higher prices over time to buy Nifty 50 and the index is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. 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 22000 points. The index is assessed as technically positive for the medium long term.
Extended analysis
S&P 200 has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index has support at points 7570 and resistance at points 7880. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically slightly positive for the medium long term.
Extended analysis
NYSE Composite has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index has support at points 17400 and resistance at points 18300. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically slightly positive for the medium long term.
Extended analysis
Hong Kong - Hang Seng has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development. The index has broken a support level in the short term and given a negative signal for the short term trading range. The index has support at points 17000 and resistance at points 19000. RSI below 30 shows that the momentum of the index is strongly negative in the short term. Investor have steadily reduced the price to sell the index, which indicates increasing pessimism and continued falling prices. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis
Shanghai Composite is in a falling trend channel in the medium long term. This shows that investors over time have sold at lower prices to get out of the index, and indicates negative development for the market. The index has broken a support level and given a negative signal for the long term trading range. The index has support at points 2700 and resistance at points 3070. RSI is below 30 after the falling prices of the past weeks. The index has strong negative momentum and further decline is indicated. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The RSI curve shows a falling trend, which supports the negative trend. The index is overall assessed as technically negative for the medium long term.
Extended analysis
Singapore - Straits Times is within an approximate horizontal trend channel in the medium long term, which indicates further development in the same direction. The index has given a positive signal from the inverse head and shoulders formation by a break up through the resistance at 3208. Further rise to 3403 or more is signaled. The index is approacing resistance at 3323 points, which may give a negative reaction. However, a break upwards through 3323 points will be a positive signal. The index is overall assessed as technically neutral for the medium long term.
Extended analysis
Euro Stoxx 50 has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The price has reacted back after a false break of the double top formation. A significant penetration of 4891 will again give new negative signals to the index, while a break of the opposite side of the formation will be a strong positive signal. The index is testing support at points 4890. This could give a positive reaction, but a downward breakthrough of points 4890 means a negative signal. The index is overall assessed as technically neutral for the medium long term.
Extended analysis
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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.