Morning Report Feb 28, 2025

NASDAQ (Price Feb 27, 2025: 18544)

Sell

NASDAQ has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index has broken a double top formation. A decisive break of the support at 19044 will signal a fall to 18021 or less. It also gave a negative signal from the head and shoulders formation at the break down through the support at 19294. Further fall to 18131 or lower is signaled. The index has marginally broken down through support at points 18600. An established break predicts a further decline. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Feb 27, 2025: 22977)

Buy

Investors have paid higher prices over time to buy Hong Kong - Hang Seng 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 a resistance level and given a positive signal for the long-term trading range. The index is testing resistance at points 23000. This could give a negative reaction, but an upward breakthrough of points 23000 means a positive signal. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This strengthens the trend. The short term momentum of the index is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Hong Kong - Hang Seng. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Sydney (Price Feb 27, 2025: 8756.70)

Buy

Investors have paid higher prices over time to buy Sydney 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 is testing support at points 8750. This could give a positive reaction, but a downward breakthrough of points 8750 means a negative signal. The volume balance is positive and strengthens the index in the short term. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Nikkei 225 (Price Feb 27, 2025: 39270)

Weak sell

Nikkei 225 is within an approximate horizontal trend channel in the medium long term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The index is moving within a rectangle formation between support at 38459 and resistance at 40033. A decisive break through one of these levels indicates the new direction for the index. The index is between support at points 38400 and resistance at points 40000. A definitive break through of one of these levels predicts the new direction. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the index and indicates increased chance of a break down. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis

Toronto (Price Feb 27, 2025: 25483)

Watch

Toronto 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 testing resistance at points 25700. This could give a negative reaction, but an upward breakthrough of points 25700 means a positive signal. The index is assessed as technically neutral for the medium long term.
Extended analysis

NYSE Composite (Price Feb 27, 2025: 20130)

Watch

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 testing resistance at points 20300. This could give a negative reaction, but an upward breakthrough of points 20300 means a positive signal. The index is assessed as technically neutral for the medium long term.
Extended analysis