Morning Report Nov 20, 2024

NASDAQ (Price Nov 19, 2024: 18987)

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 index has broken up through resistance at points 18600. This predicts a further rise. 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

Toronto (Price Nov 19, 2024: 25011)

Buy

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

Singapore - Straits Times (Price Nov 19, 2024: 3752.62)

Buy

Singapore - Straits Times has broken up through the ceiling of the rising trend channel in the medium long term, which signals an even stronger rising rate. The positive development, however, may give rise to short term corrections down from today's level. 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. 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 19, 2024: 3367.99)

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

AMEX Composite (Price Nov 19, 2024: 5306.75)

Buy

AMEX 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. 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 5070 points. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Nifty 50 (Price Nov 19, 2024: 23519)

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 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 19, 2024: 19718)

Watch

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. 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 neutral for the medium long term.
Extended analysis