Morning Report Apr 8, 2025

NASDAQ (Price Apr 7, 2025: 15603)

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NASDAQ has broken the rising trend channel in the medium long term and reacted strongly down. For the time being, it is difficult to say anything about the future trend direction. The index is between support at points 15300 and resistance at points 16300. 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 index is overall assessed as technically neutral for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Apr 7, 2025: 20161)

Buy

Hong Kong - Hang Seng 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 is approaching support at 19600 points, which may give a positive reaction. However, a break downwards through 19600 points will be a negative signal. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This weakens the trend break. 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 index is overall assessed as technically positive for the medium long term.
Extended analysis

Euro Stoxx 50 (Price Apr 7, 2025: 4656.41)

Weak sell

Euro Stoxx 50 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 broken a support level and given a negative signal for the long term trading range. The index has support at points 4000 and resistance at points 5090. Negative volume balance weakens the index in the short term. 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 index is overall assessed as technically slightly negative for the medium long term.
Extended analysis

Singapore - Straits Times (Price Apr 7, 2025: 3496.58)

Sell

Singapore - Straits Times 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 broken a support level and given a negative signal for the long term trading range. The index has marginally broken down through support at points 3500. An established break predicts a further decline. 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 index is overall assessed as technically negative for the medium long term.
Extended analysis

Wellington (Price Apr 7, 2025: 11891)

Sell

Wellington 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 broken down through support at points 11960. This predicts a further decline. In case of positive reactions, there will now be resistance at points 11960. 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

Shanghai Composite (Price Apr 7, 2025: 3145.55)

Sell

Shanghai Composite is within an approximate horizontal trend channel in the medium long term, which indicates further development in the same direction. The index gave a negative signal from the double top formation by the break down through the support at 3161. Further fall to 2893 or lower is signaled. The index is testing resistance at points 3170. This could give a negative reaction, but an upward breakthrough of points 3170 means a positive signal. Negative volume balance shows that volume is higher on days with falling prices than days with rising prices. This indicates decreasing optimism among investors. 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 is an early signal of a possible trend reversal downwards for the price as well. The index is overall assessed as technically negative for the medium long term.
Extended analysis

NYSE Composite (Price Apr 7, 2025: 17439)

Sell

NYSE Composite has broken the rising trend channel in the medium long term and reacted strongly down. For the time being, it is difficult to say anything about the future trend direction. The price has had a strong fall after the negative signal from the double top formation at the break down through the support at 18958. The objective at 17737 is now met, but the formation signals further development in the same direction. The index is testing support at points 17400. This could give a positive reaction, but a downward breakthrough of points 17400 means a negative signal. Volume has previously been low at price tops and high at price bottoms. Volume balance is also negative, which weakens the index. 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 index is overall assessed as technically negative for the medium long term.
Extended analysis

CAC (Price Apr 7, 2025: 6927.12)

Sell

CAC has broken down from an approximate horixontal trend channel in the medium long term after investors have sold at ever lower prices. A negative signal has been triggered and further decline for the index is indicated. The price has also broken a support level and given a negative signal for the long-term trading range. There is no support in the price chart and further decline is indicated. In case of a positive reaction, the index has resistance at 7140 points. 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

Euronext PSI20 (Price Apr 7, 2025: 6262.28)

Sell

Euronext PSI20 has broken the rising trend channel in the medium long term and reacted strongly down. For the time being, it is difficult to say anything about the future trend direction. The index is moving within a rectangle formation between support at 6158 and resistance at 6991. A decisive break through one of these levels indicates the new direction for the index. The index has marginally broken down through support at points 6280. An established break predicts a further decline. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Nifty 50 (Price Apr 7, 2025: 22162)

Sell

Nifty 50 shows weak development in a falling trend channel in the medium long term. Falling trends indicate that the market experiences negative development and falling buy interest among investors. It also gave a negative signal from the head and shoulders formation at the break down through the support at 22779. Further fall to 20405 or lower is signaled. The index has broken a support level in the short term and given a negative signal for the short term trading range. The index is testing support at points 22000. This could give a positive reaction, but a downward breakthrough of points 22000 means a negative signal. The index is overall assessed as technically negative for the medium long term.
Extended analysis