NASDAQ shows strong development within 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. RSI is above 70 after a good price increase the past weeks. The index has strong positive momentum and further increase is indicated. 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
KOSPI 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. The index has broken up through resistance at points 2760. This predicts a further rise. In case of negative reactions, there will now be support at points 2760. The RSI curve shows a rising trend, which supports the positive trend. The index is overall assessed as technically positive 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 price has risen strongly since the positive signal from the inverse head and shoulders formation at the break through resistance at 3208. The objective at 3403 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 3373 points. The index is overall assessed as technically positive for the medium long term.
Extended analysis
Toronto 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 20630 and resistance at points 22460. 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 neutral for the medium long term.
Extended analysis
Wellington is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. A head and shoulders formation is under development. A decisive break of the support at 11505, ideally with an increase in volume, signals a further fall. The index has support at points 11550 and resistance at points 11950. The index is overall assessed as technically neutral for the medium long term.
Extended analysis
NYSE Composite has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index is approacing resistance at 18300 points, which may give a negative reaction. However, a break upwards through 18300 points will be a positive signal. The index is 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.