Morning Report Sep 18, 2024


Buy: NASDAQ SYDNEY NYA
Weak sell: NIKKEI
Watch: HASE SSEC

NASDAQ (Price Sep 17, 2024: 17628)
Buy


NASDAQ is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index has support at points 16400 and resistance at points 18600. The index is assessed as technically positive for the medium long term.
Extended analysis

Sydney (Price Sep 17, 2024: 8364.30)
Buy


Investors have paid higher prices over time to buy Sydney and the index 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 a resistance level and given a positive signal for the long-term trading range. 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 8160 points. Trading volume has increased substantially lately, which may be because of fundamental news. 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

NYSE Composite (Price Sep 17, 2024: 19226)
Buy


NYSE Composite 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 18340 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

Nikkei 225 (Price Sep 17, 2024: 36380)
Weak sell


Nikkei 225 is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index has broken down through support at points 37000. This predicts a further decline. In case of positive reactions, there will now be resistance at points 37000. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the rising trend and could be an early signal of a coming trend break. The RSI curve shows a falling trend, which is an early signal of a possible trend reversal downwards for the price as well. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Sep 17, 2024: 17660)
Watch


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. An inverse head and shoulders formation is under development. A decisive break of the resistance at 17893, ideally with an increase in volume, signals a further rise. The index is between support at points 17100 and resistance at points 18000. A definitive break through of one of these levels predicts the new direction. The index is overall assessed as technically neutral for the medium long term.
Extended analysis

Shanghai Composite (Price Sep 17, 2024: 2717.28)
Watch


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 is testing support at points 2700. This could give a positive reaction, but a downward breakthrough of points 2700 means a negative signal. 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 neutral for the medium long term.
Extended analysis

The report consists of daily evaluations by Investtech´s automated analysis system. The selection is mainly based on new medium term technical signals from the last closing price.

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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.


    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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