Morning Report Nov 8, 2024

NASDAQ (Price Nov 7, 2024: 19269)

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 18700. This predicts a further rise. In case of negative reactions, there will now be support at points 18700. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Nov 7, 2024: 20728)

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

Sydney (Price Nov 7, 2024: 8552.60)

Buy

Sydney has broken the rising trend up in the medium long term, which indicates an even stronger rising rate. 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 8150 points. 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

Shanghai Composite (Price Nov 7, 2024: 3452.30)

Buy

Shanghai Composite has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. 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

NYSE Composite (Price Nov 7, 2024: 19876)

Buy

NYSE Composite 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. 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

Euro Stoxx 50 (Price Nov 7, 2024: 4815.15)

Weak buy

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