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 has marginally broken up through resistance at points 16400. An established break predicts a further rise. The index is assessed as technically positive for the medium long term.
Extended analysis
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. 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 4880 points. The index is assessed as technically positive for the medium long term.
Extended analysis
Shanghai Composite 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 index is between support at points 3070 and resistance at points 3150. A definitive break through of one of these levels predicts the new direction. The RSI curve shows a rising trend, which could be an early signal of the start of a rising trend 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. This shows that investors over time have bought the index at higher prices and indicates good development for the market. 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 short term momentum of the index is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for NYSE Composite. 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 slightly negative for the medium long term.
Extended analysis
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. The index is moving within a rectangle formation between support at 21976 and resistance at 22686. A decisive break through one of these levels indicates the new direction for the index. The index is approacing resistance at 22650 points, which may give a negative reaction. However, a break upwards through 22650 points will be a positive signal. Volume has previously been low at price tops and high at price bottoms. 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
Wellington has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. It also gave a negative signal from the head and shoulders formation at the break down through the support at 11824. Further fall to 11480 or lower is signaled. The index has broken a support level and given a negative signal for the long term trading range. The index has marginally broken down through support at points 11550. An established break predicts a further decline. 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 negative 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.