Morning Report Oct 28, 2024

NASDAQ (Price Oct 25, 2024: 18519)

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. 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

KOSPI (Price Oct 25, 2024: 2583.27)

Buy

KOSPI is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index is testing support at points 2580. This could give a positive reaction, but a downward breakthrough of points 2580 means a negative signal. The index is assessed as technically positive for the medium long term.
Extended analysis

Sydney (Price Oct 25, 2024: 8467.30)

Buy

Sydney 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 8150 and resistance at points 8620. 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

Nikkei 225 (Price Oct 25, 2024: 37914)

Weak 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 support at points 33500 and resistance at points 40000. 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 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 slightly positive for the medium long term.
Extended analysis

NYSE Composite (Price Oct 25, 2024: 19456)

Weak buy

NYSE Composite 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 has support at points 18300 and resistance at points 19900. 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

Nifty 50 (Price Oct 25, 2024: 24181)

Watch

Nifty 50 has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index has support at points 22000 and resistance at points 25000. 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 could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically neutral for the medium long term.
Extended analysis