Morning Report Apr 23, 2024

NASDAQ (Price Apr 22, 2024: 15451)

Buy

NASDAQ is in 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 14300 and resistance at points 16400. 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 positive for the medium long term.
Extended analysis

Euronext PSI20 (Price Apr 22, 2024: 6515.47)

Buy

Investors have paid higher prices over time to buy Euronext PSI20 and the index 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 the resistance at 6332 of an an inverse head and shoulders formation. Decisive breaks of such formations are considered strong signals of further rise. It also gave positive signal from the rectangle formation at the break up through the resistance at 6222. Further rise to 6764 or more is signaled. The index is approacing resistance at 6600 points, which may give a negative reaction. However, a break upwards through 6600 points will be 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 positive for the medium long term.
Extended analysis

UK 100 (CBOE) (Price Apr 22, 2024: 801.72)

Buy

Investors have paid higher prices over time to buy UK 100 (CBOE) 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. It also gave positive signal from the rectangle formation at the break up through the resistance at 774. Further rise to 821 or more is signaled. 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 792 points. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Euro Stoxx 50 (Price Apr 22, 2024: 4936.85)

Weak buy

Euro Stoxx 50 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 approacing resistance at 5080 points, which may give a negative reaction. However, a break upwards through 5080 points will be a positive signal. The index is assessed as technically slightly positive for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Apr 22, 2024: 16805)

Weak sell

Hong Kong - Hang Seng is in a falling trend channel in the medium long term. Falling trends indicate that the market experiences negative development and falling buy interest among investors. The index is moving within a rectangle formation between support at 16228 and resistance at 17149. A decisive break through one of these levels indicates the new direction for the index. The index has given a positive signal from the inverse head and shoulders formation by a break up through the resistance at 16738. Further rise to 19064 or more is signaled. The index is testing resistance at points 17000. This could give a negative reaction, but an upward breakthrough of points 17000 means a positive signal. The index is overall assessed as technically slightly negative for the medium long term.
Extended analysis

Shanghai Composite (Price Apr 22, 2024: 3021.98)

Weak sell

Shanghai Composite has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The index is approacing resistance at 3070 points, which may give a negative reaction. However, a break upwards through 3070 points will be a positive signal. The index is assessed as technically slightly negative for the medium long term.
Extended analysis

Sydney (Price Apr 22, 2024: 7937.90)

Watch

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 support at points 7670 and resistance at points 8150. 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 neutral for the medium long term.
Extended analysis

NYSE Composite (Price Apr 22, 2024: 17602)

Watch

NYSE Composite has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index has support at points 16150 and resistance at points 18300. 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 neutral for the medium long term.
Extended analysis