Morning Report Oct 21, 2024

NASDAQ (Price Oct 18, 2024: 18490)

Weak buy

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 testing resistance at points 18600. This could give a negative reaction, but an upward breakthrough of points 18600 means a positive signal. The index is assessed as technically slightly positive for the medium long term.
Extended analysis

Toronto (Price Oct 18, 2024: 24823)

Buy

Toronto has broken up through the ceiling of the rising trend channel in the medium long term, which signals an even stronger rising rate. The positive development, however, may give rise to short term corrections down from today's level. 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 short term momentum of the index is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Toronto. 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 Oct 18, 2024: 3640.19)

Buy

Investors have paid higher prices over time to buy Singapore - Straits Times 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. 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 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

Euro Stoxx 50 (Price Oct 18, 2024: 4815.15)

Weak buy

Euro Stoxx 50 shows strong development within 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 4400 and resistance at points 4900. The index is assessed as technically slightly positive for the medium long term.
Extended analysis

Nikkei 225 (Price Oct 18, 2024: 38982)

Watch

Nikkei 225 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 testing resistance at points 39000. This could give a negative reaction, but an upward breakthrough of points 39000 means a positive signal. Volume has previously been low at price tops and high at price bottoms. This weakens the rising trend and could be an early signal of a coming trend break. 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 neutral for the medium long term.
Extended analysis

Nifty 50 (Price Oct 18, 2024: 24854)

Watch

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. The index has marginally broken down through support at points 25000. An established break predicts a further decline. 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 neutral for the medium long term.
Extended analysis