Morning Report Sep 27, 2024

NASDAQ (Price Sep 26, 2024: 18190)

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

Toronto (Price Sep 26, 2024: 24034)

Buy

Toronto has broken the rising trend up in the medium long term, which indicates an even stronger rising rate. 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 22500 points. 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 index is overall assessed as technically positive for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Sep 26, 2024: 19924)

Buy

Hong Kong - Hang Seng has broken up from an approximate horizontal trend channel in the medium long term after investors have paid ever more. A positive signal has been triggered and further increase for the index is indicated. The price has risen strongly since the positive signal from the inverse head and shoulders formation at the break through resistance at 17893. The objective at 19719 is now met, but the formation still gives a signal in the same direction. The index has broken up through resistance at points 19600. This predicts a further rise. Positive volume balance, with high volume on days of rising prices and low volume on days of falling prices, strengthens the index in the short term. 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

Singapore - Straits Times (Price Sep 26, 2024: 3578.63)

Buy

Singapore - Straits Times shows strong development within a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. 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. 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 26, 2024: 8462.80)

Buy

Sydney has broken the rising trend up in the medium long term. This signals an even stronger rate of growth, but the positive development may result in corrections down in the short term. The price has also 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. This shows there is an increased interest for the index, possibly because of fundamental news. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Nifty 50 (Price Sep 26, 2024: 26216)

Buy

Nifty 50 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 25000 points. 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

CAC (Price Sep 26, 2024: 7742.09)

Buy

CAC has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The index has broken an inverse head and shoulders formation. A decisive break, preferably with increasing volume, is considered a confident signal of the start of a rising trend. The index has support at points 7500 and resistance at points 7920. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Nikkei 225 (Price Sep 26, 2024: 38926)

Buy

Nikkei 225 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 index has broken a resistance level in the short term and given a positive signal for the short-term trading range. The index is testing resistance at points 39000. This could give a negative reaction, but an upward breakthrough of points 39000 means a positive signal. 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 index is overall assessed as technically positive for the medium long term.
Extended analysis