Morning Report Mar 27, 2025

NASDAQ (Price Mar 26, 2025: 17899)

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

Shanghai Composite (Price Mar 26, 2025: 3373.75)

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 3704 or more is signaled. The index has support at points 3170 and resistance at points 3470. Trading volume has increased substantially lately. This shows there is an increased interest for the index, possibly because of fundamental news. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Mar 26, 2025: 23579)

Weak 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. The index is between support at points 23000 and resistance at points 24700. A definitive break through of one of these levels predicts the new direction. 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 slightly positive for the medium long term.
Extended analysis

S&P 200 (Price Mar 26, 2025: 7969.00)

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 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 slightly negative for the medium long term.
Extended analysis

Nifty 50 (Price Mar 26, 2025: 23487)

Sell

Nifty 50 has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The price has reacted back after a false break of the head and shoulders formation. A significant penetration of 22779 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 support at points 22000 and resistance at points 25000. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Sydney (Price Mar 26, 2025: 8185.50)

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Sydney 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 8317. Further fall to 7902 or lower is signaled. The index is between support at points 8140 and resistance at points 8300. A definitive break through of one of these levels predicts the new direction. The short term momentum of the index is strongly negative, with RSI below 30. This indicates increasing pessimism among investors and further decline for Sydney. 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