Morning Report Mar 14, 2025

NASDAQ (Price Mar 13, 2025: 17303)

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NASDAQ has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The price has had a strong fall after the negative signal from the double top formation at the break down through the support at 19044. The objective at 18021 is now met, but the formation signals further development in the same direction. The index has support at points 16300 and resistance at points 18600. 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 index is overall assessed as technically neutral for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Mar 13, 2025: 23960)

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. Volume has previously been high at price tops and low at price bottoms. This strengthens the trend. 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

Euronext PSI20 (Price Mar 13, 2025: 6722.00)

Buy

Euronext PSI20 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 index is moving within a rectangle formation between support at 6186 and resistance at 6989. A decisive break through one of these levels indicates the new direction for the index. The price has reacted back after the break of the rectangle formation. There is support around 6674, which now indicates good buying opportunities. An established break through this support will neutralize the positive signal. The index has support at points 6610 and resistance at points 6830. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Shanghai Composite (Price Mar 13, 2025: 3419.56)

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 given a positive signal from the rectangle formation by a break up through the resistance at 3119. Further rise to 3707 or more is signaled. The index is approacing resistance at 3470 points, which may give a negative reaction. However, a break upwards through 3470 points will be a positive signal. Trading volume has increased substantially lately. This shows there is an increased interest for the index, possibly because of fundamental news. 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 Shanghai Composite. 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 13, 2025: 24203)

Sell

Toronto 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 24414. Further fall to 23156 or lower is signaled. The index has broken down through support at points 24400. This predicts a further decline. Volume has previously been low at price tops and high at price bottoms. Volume balance is also negative, which weakens the index. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Nikkei 225 (Price Mar 13, 2025: 37053)

Sell

Nikkei 225 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 met the objective at 36978 after the break of the rectangle formation. The price has now risen again, but the formation indicates a further fall. The index is testing resistance at points 37100. This could give a negative reaction, but an upward breakthrough of points 37100 means a positive signal. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the index. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Sydney (Price Mar 13, 2025: 8013.30)

Sell

Sydney has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index gave a negative signal from the double top formation by the break down through the support at 8317. Further fall to 7902 or lower is signaled. The index has broken down through support at points 8140. This predicts a further decline. In case of positive reactions, there will now be resistance at points 8140. RSI below 30 shows that the momentum of the index is strongly negative in the short term. Investor have steadily reduced the price to sell the index, which indicates increasing pessimism and continued falling prices. 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 index is overall assessed as technically negative for the medium long term.
Extended analysis

NYSE Composite (Price Mar 13, 2025: 18876)

Sell

NYSE Composite has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index has built a double top formation and given signal of further fall to 17726. On reactions back, there is now resistance at 18958. The index has marginally broken down through support at points 19000. An established break predicts a further decline. Negative volume balance shows that volume is higher on days with falling prices than days with rising prices. This indicates decreasing optimism among investors. The index is overall assessed as technically negative for the medium long term.
Extended analysis