Morning Report Oct 30, 2024

NASDAQ (Price Oct 29, 2024: 18713)

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 has marginally broken up through resistance at points 18700. An established break predicts a further rise. 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

Toronto (Price Oct 29, 2024: 24563)

Buy

Toronto 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 22500 points. Positive volume balance indicates that buyers are aggressive while sellers are passive, and strengthens the index. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Sydney (Price Oct 29, 2024: 8439.50)

Buy

Sydney is in 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. 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

NYSE Composite (Price Oct 29, 2024: 19457)

Buy

Investors have paid higher prices over time to buy NYSE Composite and the index is in 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 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 positive for the medium long term.
Extended analysis

AMEX Composite (Price Oct 29, 2024: 5266.26)

Weak buy

Investors have paid higher prices over time to buy AMEX Composite and the index is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. However, the price has broken a support level in the short term and given a negative signal for the short term trading range. The index has support at points 5070 and resistance at points 5400. The index is overall assessed as technically slightly positive for the medium long term.
Extended analysis

Shanghai Composite (Price Oct 29, 2024: 3266.24)

Weak sell

Shanghai Composite 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 moving average indicator has given a positive signal. In isolation, this signals a continued rise, but the slowness of the indicator often means that one has lost much of the upside. The index is approacing resistance at 3300 points, which may give a negative reaction. However, a break upwards through 3300 points will be a positive signal. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis

Singapore - Straits Times (Price Oct 29, 2024: 3560.39)

Weak sell

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. This signals increasing optimism among investors and indicates continued rise. The index has built a double top formation and given signal of further fall to 3508. On reactions back, there is now resistance at 3573. The index has support at points 3500 and resistance at points 3640. 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 slightly negative for the medium long term.
Extended analysis