Morning Report Oct 23, 2024

NASDAQ (Price Oct 22, 2024: 18573)

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 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

Sydney (Price Oct 22, 2024: 8476.30)

Buy

Sydney 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 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

Shanghai Composite (Price Oct 22, 2024: 3302.80)

Buy

Shanghai Composite has broken the falling trend channel in the medium long term and reacted strongly up. For the time being, it is difficult to say anything about the future trend 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 3160 points. The index is assessed as technically positive for the medium long term.
Extended analysis

Euro Stoxx 50 (Price Oct 22, 2024: 4815.15)

Weak buy

Euro Stoxx 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. 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 22, 2024: 38105)

Watch

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 support at points 33500 and resistance at points 40000. 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. Trading volume has increased substantially lately. This shows there is an increased interest for the index, possibly because of fundamental news. 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

Nifty 50 (Price Oct 22, 2024: 24472)

Watch

Nifty 50 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 25000. This predicts a further decline. In case of positive reactions, there will now be resistance at points 25000. RSI is below 30 after the falling prices of the past weeks. The index has strong negative momentum and further decline is indicated. 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 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