Morning Report Sep 25, 2024

NASDAQ (Price Sep 24, 2024: 18075)

Weak buy

NASDAQ 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. The price has also broken a resistance level in the short term and given a positive signal for the short-term trading range. The index is approacing resistance at 18600 points, which may give a negative reaction. However, a break upwards through 18600 points will be a positive signal. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The index is overall assessed as technically slightly positive for the medium long term.
Extended analysis

Singapore - Straits Times (Price Sep 24, 2024: 3583.96)

Buy

Singapore - Straits Times 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. 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 3500 points. Positive volume balance indicates that buyers are aggressive while sellers are passive, and strengthens the index. Trading volume has increased substantially lately, which may be because of fundamental news. 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 index is overall assessed as technically positive for the medium long term.
Extended analysis

Sydney (Price Sep 24, 2024: 8372.80)

Buy

Sydney 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 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 8150 points. Trading volume has increased substantially lately, which may be because of fundamental news. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Nifty 50 (Price Sep 24, 2024: 25940)

Buy

Nifty 50 shows strong development within 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 25000 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

NYSE Composite (Price Sep 24, 2024: 19507)

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 18300 points. The index is assessed as technically positive for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Sep 24, 2024: 19144)

Weak buy

Hong Kong - Hang Seng has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The index has given a positive signal from the inverse head and shoulders formation by a break up through the resistance at 17893. Further rise to 19719 or more is signaled. The index is approacing resistance at 19600 points, which may give a negative reaction. However, a break upwards through 19600 points will be a positive signal. 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 index is overall assessed as technically slightly positive for the medium long term.
Extended analysis

Shanghai Composite (Price Sep 24, 2024: 2896.31)

Watch

Shanghai Composite has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The index has broken a resistance level in the short term and given a positive signal for the short-term trading range. The index has support at points 2700 and resistance at points 2980. The index is overall assessed as technically neutral for the medium long term.
Extended analysis