Morning Report Mar 17, 2025

NASDAQ (Price Mar 14, 2025: 17754)

Watch

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 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. The index is overall assessed as technically neutral for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Mar 14, 2025: 23960)

Buy

Hong Kong - Hang Seng 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 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

Nikkei 225 (Price Mar 14, 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 has previously been low at price tops and high at price bottoms. This weakens the index. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Sydney (Price Mar 14, 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

Nifty 50 (Price Mar 14, 2025: 22397)

Sell

Nifty 50 is in a falling trend channel in the medium long term. This signals increasing pessimism among investors and indicates further decline for Nifty 50. The index gave a negative signal from the head and shoulders formation by the break down through the support at 22779. Further fall to 20405 or lower is signaled. The index is testing resistance at points 22500. This could give a negative reaction, but an upward breakthrough of points 22500 means a positive signal. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Toronto (Price Mar 14, 2025: 24553)

Watch

Toronto is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The price has reacted back after a false break of the double top formation. A significant penetration of 24414 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 has marginally broken up through resistance at points 24400. An established break predicts a further rise. 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