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. 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 RSI curve shows a rising trend, which supports the positive trend. 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 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. 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 19600 points. 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 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 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 and given a positive signal for the long-term trading range. The index is between support at points 39000 and resistance at points 40800. A definitive break through of one of these levels predicts the new direction. The index is overall assessed as technically positive for the medium long term.
Extended analysis
Sydney has broken the rising trend up in the medium long term, which indicates an even stronger rising rate. 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 8160 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 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 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
NYSE Composite 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 18300 points. 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
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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.