Morning Report Mar 6, 2025

NASDAQ (Price Mar 5, 2025: 18553)

Sell

NASDAQ 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 gave a negative signal from the double top formation by the break down through the support at 19044. Further fall to 18021 or lower is signaled. The index is testing resistance at points 18600. This could give a negative reaction, but an upward breakthrough of points 18600 means a positive signal. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Mar 5, 2025: 24370)

Buy

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. 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 23000 points. 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

Singapore - Straits Times (Price Mar 5, 2025: 3920.43)

Buy

Singapore - Straits Times 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. 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. The index is assessed as technically positive for the medium long term.
Extended analysis

Shanghai Composite (Price Mar 5, 2025: 3381.10)

Weak buy

Shanghai Composite 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 has support at points 3170 and resistance at points 3470. Trading volume has increased substantially lately, which may be because of fundamental news. RSI above 70 shows that the index has strong positive momentum in the short term. Investors have steadily paid more to buy the index, which indicates increasing optimism and that the price will continue to rise. 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 slightly positive for the medium long term.
Extended analysis

Toronto (Price Mar 5, 2025: 24871)

Watch

Investors have paid higher prices over time to buy Toronto 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 met the objective at 24709 after the break of the double top formation. The price has now risen again, but the formation indicates a further fall. The index is approaching support at 24400 points, which may give a positive reaction. However, a break downwards through 24400 points will be a negative signal. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. Volume balance is also negative, which weakens the rising trend and could be an early signal of a coming trend break. The index is overall assessed as technically neutral for the medium long term.
Extended analysis

NYSE Composite (Price Mar 5, 2025: 19755)

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 20200 points, which may give a negative reaction. However, a break upwards through 20200 points will be a positive signal. The index is assessed as technically neutral for the medium long term.
Extended analysis