Morning Report Nov 7, 2024

NASDAQ (Price Nov 6, 2024: 18983)

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. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The price has also broken a resistance level in the short term and given a positive signal for the short-term trading range. The index has broken up through resistance at points 18600. This predicts a further rise. In case of negative reactions, there will now be support at points 18600. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Toronto (Price Nov 6, 2024: 24638)

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

Shanghai Composite (Price Nov 6, 2024: 3470.66)

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 index has received a positive signal from the moving average indicator, thus signaling a 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 3300 points. The index is overall assessed as technically positive for the medium long term.
Extended analysis

NYSE Composite (Price Nov 6, 2024: 19828)

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. 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 18300 points. 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

Dow Jones Industrial Average (Price Nov 6, 2024: 43730)

Buy

Dow Jones Industrial Average 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 price has also broken a resistance level in the short term and given a positive 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 41600 points. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Singapore - Straits Times (Price Nov 6, 2024: 3672.64)

Buy

Singapore - Straits Times 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 a resistance level and given a positive signal for the long-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 3500 points. Trading volume has increased substantially lately, which may be because of fundamental news. 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

Euronext PSI20 (Price Nov 6, 2024: 6334.18)

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 through the floor at 6398 of a rectangle pattern. A decisive break will signal a further fall to 6001 or less. 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 support at points 6220 and resistance at points 6460. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Sydney (Price Nov 6, 2024: 8481.60)

Watch

Investors have paid higher prices over time to buy Sydney 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 support at points 8150 and resistance at points 8620. Negative volume balance shows that volume is higher on days with falling prices than days with rising prices. This indicates decreasing optimism among investors. Trading volume has increased substantially lately, which may be because of fundamental news. The index is overall assessed as technically neutral for the medium long term.
Extended analysis

Nifty 50 (Price Nov 6, 2024: 24484)

Watch

Nifty 50 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 broken down through support at points 25000. This predicts a further decline. The index is assessed as technically neutral for the medium long term.
Extended analysis