Morning Report Mar 31, 2025

NASDAQ (Price Mar 28, 2025: 17323)

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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. RSI diverges positively against the price, which indicates a possibility for a reaction up. The index is overall assessed as technically neutral for the medium long term.
Extended analysis

Toronto (Price Mar 28, 2025: 24759)

Buy

Toronto is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index is moving within a rectangle formation between support at 24209 and resistance at 25905. A decisive break through one of these levels indicates the new direction for the index. 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 tops and volume bottoms correspond badly with tops and bottoms in the price. This 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 positive for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Mar 28, 2025: 23427)

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. 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 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

NYSE Composite (Price Mar 28, 2025: 19270)

Buy

NYSE Composite 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. The index is approaching support at 19000 points, which may give a positive reaction. However, a break downwards through 19000 points will be a negative signal. Negative volume balance indicates that sellers are aggressive while buyers are passive, and weakens the index. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Nifty 50 (Price Mar 28, 2025: 23519)

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

Nikkei 225 (Price Mar 28, 2025: 37120)

Sell

Nikkei 225 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 received a negative signal from the moving average indicator, thus signaling a continued fall. The index is testing support at points 37100. This could give a positive reaction, but a downward breakthrough of points 37100 means a negative signal. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the index and indicates increased chance of a break down. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Sydney (Price Mar 28, 2025: 8195.50)

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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 is between support at points 8140 and resistance at points 8300. A definitive break through of one of these levels predicts the new direction. 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 neutral for the medium long term.
Extended analysis