Morning Report Nov 22, 2024

NASDAQ (Price Nov 21, 2024: 18972)

Buy

NASDAQ 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. The index has broken up through resistance at points 18600. This predicts a further rise. The index is assessed as technically positive for the medium long term.
Extended analysis

Toronto (Price Nov 21, 2024: 25391)

Buy

Toronto has broken up through the ceiling of the rising trend channel in the medium long term, which signals an even stronger rising rate. The positive development, however, may give rise to short term corrections down from today's level. 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 22500 points. The index is assessed as technically positive for the medium long term.
Extended analysis

NYSE Composite (Price Nov 21, 2024: 19968)

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. 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 18300 points. Positive volume balance shows that volume is higher on days with rising prices than days with falling prices. This indicates increasing optimism among investors. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Wellington (Price Nov 21, 2024: 13042)

Buy

Investors have paid higher prices over time to buy Wellington 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. The index has broken a resistance level in the short term and given a positive signal for the short-term trading range. 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 12830 points. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Nifty 50 (Price Nov 21, 2024: 23350)

Weak buy

Nifty 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 22000 and resistance at points 25000. 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 slightly positive for the medium long term.
Extended analysis

Shanghai Composite (Price Nov 21, 2024: 3267.19)

Weak sell

Shanghai Composite has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The index has support at points 3170 and resistance at points 3500. The index is assessed as technically slightly negative for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Nov 21, 2024: 19230)

Watch

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 has met the objective at 19719 after a break of the inverse head and shoulders formation. The price has now fallen, but the formation indicates further rise. The index has broken down through support at points 19600. This predicts a further decline. In case of positive reactions, there will now be resistance at points 19600. Trading volume has increased substantially lately, which may be because of fundamental news. The index is overall assessed as technically neutral for the medium long term.
Extended analysis