Morning Report May 10, 2024

NASDAQ (Price May 9, 2024: 16346)

Weak buy

Investors have paid higher prices over time to buy NASDAQ 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 is testing resistance at points 16400. This could give a negative reaction, but an upward breakthrough of points 16400 means a positive signal. The index is assessed as technically slightly positive for the medium long term.
Extended analysis

Toronto (Price May 9, 2024: 22376)

Buy

Toronto 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. 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 20660 points. 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 index is overall assessed as technically positive for the medium long term.
Extended analysis

Nikkei 225 (Price May 9, 2024: 38229)

Buy

Nikkei 225 shows strong development within a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index has support at points 33600 and resistance at points 40900. The index is assessed as technically positive for the medium long term.
Extended analysis

Shanghai Composite (Price May 9, 2024: 3154.55)

Buy

Shanghai Composite has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The moving average indicator has given a positive signal. In isolation, this signals a continued rise, but the slowness of the indicator often means that one has lost much of the upside. The index has marginally broken up through resistance at points 3150. An established break predicts a further rise. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Euro Stoxx 50 (Price May 9, 2024: 5054.41)

Buy

Euro Stoxx 50 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 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 4920 points. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Nifty 50 (Price May 9, 2024: 21958)

Sell

Nifty 50 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. However, the index has broken a rectangle formation. A decisive break of the support at 22132 will signal a further fall to 21424 or less. The index has support at points 19350 and resistance at points 22650. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the rising trend and could be an early signal of a coming trend break. 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 May 9, 2024: 18127)

Watch

Investors have paid higher prices over time to buy NYSE Composite 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. The index is testing resistance at points 18300. This could give a negative reaction, but an upward breakthrough of points 18300 means a positive signal. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the rising trend and could be an early signal of a coming trend break. The index is overall assessed as technically neutral for the medium long term.
Extended analysis