Morning Report Nov 15, 2024

NASDAQ (Price Nov 14, 2024: 19108)

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 has broken up through resistance at points 18600. This predicts a further rise. The index is assessed as technically positive for the medium long term.
Extended analysis

Sydney (Price Nov 14, 2024: 8539.00)

Buy

Sydney 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 8150 points. Negative volume balance indicates that volume is high on days with falling prices and low on days with rising prices, which weakens the index. 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

Euro Stoxx 50 (Price Nov 14, 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

Nifty 50 (Price Nov 14, 2024: 23533)

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 broken a support level and given a negative signal for the long term trading range. The index has support at points 22000 and resistance at points 25000. The short term momentum of the index is strongly negative, with RSI below 30. This indicates increasing pessimism among investors and further decline for Nifty 50. 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 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

NYSE Composite (Price Nov 14, 2024: 19734)

Weak 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 is approacing resistance at 20000 points, which may give a negative reaction. However, a break upwards through 20000 points will be a positive signal. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The index is overall assessed as technically slightly positive for the medium long term.
Extended analysis

Shanghai Composite (Price Nov 14, 2024: 3330.73)

Watch

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 is approaching support at 3300 points, which may give a positive reaction. However, a break downwards through 3300 points will be a negative signal. The index is assessed as technically neutral for the medium long term.
Extended analysis