Morning Report Nov 6, 2024

NASDAQ (Price Nov 5, 2024: 18439)

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 Nov 5, 2024: 24388)

Buy

Toronto 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 22500 points. The index is assessed as technically positive for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Nov 5, 2024: 20538)

Buy

Hong Kong - Hang Seng has broken up from an approximate horizontal trend channel in the medium long term. This signals a continued strong development, and the index now meets support on possible reactions down towards the ceiling of the trend channel. 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. The index has support at points 19600 and resistance at points 23000. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Singapore - Straits Times (Price Nov 5, 2024: 3597.79)

Buy

Singapore - Straits Times shows strong development within 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 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

Nikkei 225 (Price Nov 5, 2024: 39481)

Buy

Nikkei 225 is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index has broken up through resistance at points 38600. This predicts a further rise. In case of negative reactions, there will now be support at points 38600. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the rising trend and could be an early signal of a coming trend break. Trading volume has increased substantially lately, which may be because of fundamental news. 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 positive for the medium long term.
Extended analysis

Nifty 50 (Price Nov 5, 2024: 24213)

Weak buy

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. Negative volume balance shows that volume is higher on days with falling prices than days with rising prices. This indicates decreasing optimism among investors. 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 slightly positive for the medium long term.
Extended analysis