NASDAQ 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 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
Hong Kong - Hang Seng has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development. The price has risen strongly since the positive signal from the inverse head and shoulders formation at the break through resistance at 16738. The objective at 19064 is now met, but the formation still gives a signal in the same direction. The index has marginally broken up through resistance at points 19000. An established break predicts a further rise. 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 positive for the medium long term.
Extended analysis
KOSPI is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index is between support at points 2670 and resistance at points 2760. A definitive break through of one of these levels predicts the new direction. The RSI curve shows a rising trend, which supports the positive trend. The index is overall assessed as technically slightly positive for the medium long term.
Extended analysis
Investors have paid higher prices over time to buy Nifty 50 and the index is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. It, however, gave a negative signal from the rectangle formation at the break down through the support at 22132. Further fall to 21424 or lower is signaled. The index has support at points 20000 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 slightly negative for the medium long term.
Extended analysis
NYSE Composite 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 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 slightly negative for the medium long term.
Extended analysis
Sydney has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index has met the objective at 8052 after a break of the double bottom formation. The price has now fallen, but the formation indicates further rise. The index has support at points 7820 and resistance at points 8150. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the index. The index is overall assessed as technically neutral for the medium long term.
Extended analysis
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Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer.
The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.