AMEX Composite (AMEX.NDX)

Short term

AMEX Composite is in a rising trend channel in the short term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The index is testing resistance at points 5400. This could give a negative reaction, but an upward breakthrough of points 5400 means a positive signal. RSI above 70 shows that the index has strong positive momentum in the short term. Investors have steadily paid more to buy the index, which indicates increasing optimism and that the price will continue to rise. 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 neutral for the short term.

Recommendation one to six weeks: Hold

Medium term

AMEX Composite is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The price has also 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 5070 points. The index is overall assessed as technically positive for the medium long term.

Recommendation one to six months: Positive

Long term

AMEX Composite shows strong development within a rising trend channel in the long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. 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 4700 points. The index is assessed as technically positive for the long term.

Recommendation one to six quarters: Positive