Morning Report Mar 10, 2025

NASDAQ (Price Mar 7, 2025: 18196)

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 has broken down through support at points 18600. This predicts a further decline. In case of positive reactions, there will now be resistance at points 18600. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Mar 7, 2025: 24231)

Buy

Hong Kong - Hang Seng shows strong development within 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 23000 points. RSI is above 70 after a good price increase the past weeks. The index has strong positive momentum and further increase is indicated. 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. 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 Mar 7, 2025: 3914.48)

Buy

Investors have paid higher prices over time to buy Singapore - Straits Times and the index is in 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 3500 points. The index is assessed as technically positive for the medium long term.
Extended analysis

S&P 200 (Price Mar 7, 2025: 7948.20)

Weak sell

S&P 200 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 8067 will signal a fall to 7663 or less. The index is between support at points 7900 and resistance at points 8060. A definitive break through of one of these levels predicts the new direction. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This weakens the trend break. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis

KOSPI (Price Mar 7, 2025: 2563.48)

Sell

KOSPI 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 price has reacted back after a false break of the head and shoulders formation. A significant penetration of 2500 will again give new negative signals to the index, while a break of the opposite side of the formation will be a strong positive signal. The index is testing resistance at points 2580. This could give a negative reaction, but an upward breakthrough of points 2580 means a positive signal. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Nikkei 225 (Price Mar 7, 2025: 36887)

Sell

Nikkei 225 has broken down from an approximate horixontal trend channel in the medium long term after investors have sold at ever lower prices. A negative signal has been triggered and further decline for the index is indicated. The price has had a strong fall after the negative signal from the rectangle formation at the break down through the support at 38679. The objective at 36978 is now met, but the formation signals further development in the same direction. The index has marginally broken down through support at points 37100. An established break predicts a further decline. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This strengthens the trend break. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Toronto (Price Mar 7, 2025: 24759)

Watch

Toronto 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 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 has previously been low at price tops and high at price bottoms. Volume balance is also negative, which weakens the rising trend and could be an early signal of a coming trend break. The RSI curve shows a falling trend, which is an early signal of a possible trend reversal downwards for the price as well. The index is overall assessed as technically neutral for the medium long term.
Extended analysis

Sydney (Price Mar 7, 2025: 8178.50)

Watch

Sydney 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 8317 will signal a fall to 7902 or less. The index is testing support at points 8140. This could give a positive reaction, but a downward breakthrough of points 8140 means a negative signal. The index is overall assessed as technically neutral for the medium long term.
Extended analysis