Morning Report Nov 5, 2024

NASDAQ (Price Nov 4, 2024: 18180)

Weak buy

Investors have paid higher prices over time to buy NASDAQ 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 is approacing resistance at 18700 points, which may give a negative reaction. However, a break upwards through 18700 points will be a positive signal. The index is assessed as technically slightly positive for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Nov 4, 2024: 21007)

Buy

An approximate horizontal trend channel in the medium long term is broken up. Continued strong development is indicated, and the index now meets support on possible reactions down towards the trend lines. The price has risen strongly since the positive signal from the inverse head and shoulders formation at the break through resistance at 17893. The objective at 19719 is now met, but the formation still gives a signal in the same 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 19600 points. Volume tops and volume bottoms correspond well with tops and bottoms in the price. Volume balance is also positive, which strengthens the trend break. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Shanghai Composite (Price Nov 4, 2024: 3386.99)

Buy

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. 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 3300 points. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Euro Stoxx 50 (Price Nov 4, 2024: 4815.15)

Weak buy

Euro Stoxx 50 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 4400 and resistance at points 4900. The index is assessed as technically slightly positive for the medium long term.
Extended analysis

NYSE Composite (Price Nov 4, 2024: 19243)

Weak buy

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

Singapore - Straits Times (Price Nov 4, 2024: 3577.34)

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. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The price has reacted back after a false break of the double top formation. A significant penetration of 3573 will again give new negative signals to the index, while a break of the opposite side of the formation will be a strong positive signal. 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. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis