Sydney (SYDNEY.NDX)

Short term

Sydney shows strong development within 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 has marginally broken up through resistance at points 8620. An established break predicts a further rise. The index is assessed as technically positive for the short term.

Recommendation one to six weeks: Positive

Medium term

Sydney 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. 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 8370 points. Trading volume has increased substantially lately. This shows there is an increased interest for the index, possibly because of fundamental news. The index is overall assessed as technically positive for the medium long term.

Recommendation one to six months: Positive

Long term

Investors have paid higher prices over time to buy Sydney and the index is in a rising trend channel in the long term. This signals increasing optimism among investors and indicates continued rise. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 7591. The objective at 8302 is now met, but the formation still gives a signal in the same direction. 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 7800 points. Trading volume has increased substantially lately, which may be because of fundamental news. The index is overall assessed as technically positive for the long term.

Recommendation one to six quarters: Positive