Morning Report Oct 24, 2024

NASDAQ (Price Oct 23, 2024: 18277)

Weak buy

NASDAQ shows strong development within 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. 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 Oct 23, 2024: 3612.68)

Buy

Singapore - Straits Times 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. This shows there is an increased interest for the index, possibly 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

Shanghai Composite (Price Oct 23, 2024: 3280.26)

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

S&P 200 (Price Oct 23, 2024: 8206.30)

Buy

S&P 200 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 7900 points. Trading volume has increased substantially lately. This shows there is an increased interest for the index, possibly 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 23, 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

Nifty 50 (Price Oct 23, 2024: 24436)

Watch

Nifty 50 shows strong development within 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 has broken down through support at points 25000. This predicts a further decline. The short term momentum of the index is strongly negative, with RSI below 30. This indicates increasing pessimism among investors and further decline for Nifty 50. 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