Morning Report Mar 21, 2025

NASDAQ (Price Mar 20, 2025: 17692)

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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 short term momentum of the index is strongly negative, with RSI below 30. This indicates increasing pessimism among investors and further decline for NASDAQ. 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 20, 2025: 23690)

Buy

Hong Kong - Hang Seng is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index is approaching support at 23000 points, which may give a positive reaction. However, a break downwards through 23000 points will be a negative signal. Volume tops and volume bottoms correspond well with tops and bottoms in the price. 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

Euro Stoxx 50 (Price Mar 20, 2025: 5450.93)

Buy

Investors have paid higher prices over time to buy Euro Stoxx 50 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. 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 5090 points. The index is assessed as technically positive for the medium long term.
Extended analysis

AMEX Composite (Price Mar 20, 2025: 5145.50)

Buy

Investors have paid higher prices over time to buy AMEX Composite 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 broken a resistance level in the short term and given a positive signal for the short-term trading range. The index has broken up through resistance at points 5080. This predicts a further rise. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Nikkei 225 (Price Mar 20, 2025: 37677)

Weak 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 between support at points 37100 and resistance at points 38000. 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. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis

S&P 200 (Price Mar 20, 2025: 7931.20)

Sell

S&P 200 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 8067. Further fall to 7663 or lower is signaled. The index is approacing resistance at 8060 points, which may give a negative reaction. However, a break upwards through 8060 points will be a positive signal. 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 RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Sydney (Price Mar 20, 2025: 8158.70)

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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 marginally broken up through resistance at points 8140. An established break predicts a further rise. 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 RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically neutral for the medium long term.
Extended analysis