Morning Report Apr 3, 2025

NASDAQ (Price Apr 2, 2025: 17601)

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

Singapore - Straits Times (Price Apr 2, 2025: 3933.44)

Buy

Singapore - Straits Times is in 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 3820 points. The index is assessed as technically positive for the medium long term.
Extended analysis

Shanghai Composite (Price Apr 2, 2025: 3342.01)

Weak buy

Shanghai Composite is within an approximate horizontal trend channel in the medium long term, which indicates further development in the same direction. The index has given a positive signal from the rectangle formation by a break up through the resistance at 3119. Further rise to 3701 or more is signaled. The index has support at points 3170 and resistance at points 3470. 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 slightly positive for the medium long term.
Extended analysis

NYSE Composite (Price Apr 2, 2025: 19533)

Weak buy

NYSE Composite 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 moving within a rectangle formation between support at 18850 and resistance at 20140. A decisive break through one of these levels indicates the new direction for the index. The index has support at points 19000 and resistance at points 20200. 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 RSI curve shows a rising trend, which supports the positive trend. The index is overall assessed as technically slightly positive for the medium long term.
Extended analysis

Sydney (Price Apr 2, 2025: 8052.70)

Sell

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 has broken down through support at points 8140. This predicts a further decline. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Nifty 50 (Price Apr 2, 2025: 23332)

Sell

Nifty 50 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 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 is testing resistance at points 23600. This could give a negative reaction, but an upward breakthrough of points 23600 means a positive signal. RSI is above 70 after a good price increase the past weeks. The index has strong positive momentum and further increase is indicated. 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 negative for the medium long term.
Extended analysis