Morning Report Oct 31, 2024

NASDAQ (Price Oct 30, 2024: 18608)

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 18700. This could give a negative reaction, but an upward breakthrough of points 18700 means a positive signal. The index is assessed as technically slightly positive for the medium long term.
Extended analysis

Toronto (Price Oct 30, 2024: 24508)

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, with high volume on days of rising prices and low volume on days of falling prices, strengthens the index in the short term. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Sydney (Price Oct 30, 2024: 8422.10)

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. 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

S&P 200 (Price Oct 30, 2024: 8160.00)

Buy

Investors have paid higher prices over time to buy S&P 200 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 7900 and resistance at points 8350. 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

NYSE Composite (Price Oct 30, 2024: 19416)

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 positive for the medium long term.
Extended analysis

Wellington (Price Oct 30, 2024: 12639)

Buy

Investors have paid higher prices over time to buy Wellington 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. The index has broken a support level in the short term and given a negative signal for the short term trading range. 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 12100 points. The RSI curve shows a rising trend, which supports the positive trend. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Shanghai Composite (Price Oct 30, 2024: 3279.82)

Weak sell

Shanghai Composite has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The index has received a positive signal from the moving average indicator, thus signaling a continued rise. The index is testing resistance at points 3300. This could give a negative reaction, but an upward breakthrough of points 3300 means a positive signal. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis

CAC (Price Oct 30, 2024: 7428.36)

Sell

CAC is within an approximate horizontal trend channel in the medium long term, which indicates further development in the same direction. The index has broken a support level in the short term and given a negative signal for the short term trading range. The index has broken down through support at points 7500. This predicts a further decline. In case of positive reactions, there will now be resistance at points 7500. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Singapore - Straits Times (Price Oct 30, 2024: 3558.88)

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 negative for the medium long term.
Extended analysis

Euronext PSI20 (Price Oct 30, 2024: 6391.60)

Sell

Euronext PSI20 has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The price has broken the support at 6402 of a rectangle pattern, which signals a further fall. It also gave a negative signal from the double top formation at the break down through the support at 6480. Further fall to 6088 or lower is signaled. The index has broken down through support at points 6460. This predicts a further decline. 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 index is overall assessed as technically negative for the medium long term.
Extended analysis