Morning Report Nov 18, 2024

NASDAQ (Price Nov 15, 2024: 18680)

Buy

NASDAQ is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index is testing support at points 18600. This could give a positive reaction, but a downward breakthrough of points 18600 means a negative signal. 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

Singapore - Straits Times (Price Nov 15, 2024: 3744.70)

Buy

Singapore - Straits Times has broken the rising trend up in the medium long term. This signals an even stronger rate of growth, but the positive development may result in corrections down in the short term. The price has also 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 index is overall assessed as technically positive for the medium long term.
Extended analysis

Euro Stoxx 50 (Price Nov 15, 2024: 4815.15)

Weak buy

Investors have paid higher prices over time to buy Euro Stoxx 50 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 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 15, 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. RSI is below 30 after the falling prices of the past weeks. The index has strong negative momentum and further decline is indicated. 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 15, 2024: 19646)

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

Hong Kong - Hang Seng (Price Nov 15, 2024: 19426)

Watch

Hong Kong - Hang Seng 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 met the objective at 19719 after a break of the inverse head and shoulders formation. The price has now fallen, but the formation indicates further rise. The index has marginally broken down through support at points 19600. An established break predicts a further decline. 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 neutral for the medium long term.
Extended analysis