Morning Report Mar 18, 2024


Buy: NASDAQ DAX SYDNEY NYA SSEC
Weak sell: HASE

NASDAQ (Price Mar 15, 2024: 15973)
Buy


NASDAQ 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 14400 points. RSI diverges negatively against the price, which indicates danger of a reaction downwards. 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

Frankfurt - DAX (Price Mar 15, 2024: 17937)
Buy


Frankfurt - DAX has broken up from an approximate horizontal trend channel in the medium long term after investors have paid ever more. A positive signal has been triggered and further increase for the index is indicated. 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 16400 points. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This strengthens the trend break. RSI is above 70 after a good price increase the past weeks. The index has strong positive momentum and further increase is indicated. 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

Sydney (Price Mar 15, 2024: 7925.20)
Buy


Sydney has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. 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 7570 points. The index is assessed as technically positive for the medium long term.
Extended analysis

NYSE Composite (Price Mar 15, 2024: 17848)
Buy


NYSE Composite 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 16100 points. 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

Shanghai Composite (Price Mar 15, 2024: 3084.93)
Buy


Shanghai Composite has broken the falling trend channel in the medium long term and reacted strongly up. For the time being, it is difficult to say anything about the future trend direction. The index has broken a resistance level and given a positive signal for the long-term trading range. The index has marginally broken up through resistance at points 3070. An established break predicts a further rise. 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 Shanghai 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 positive for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Mar 15, 2024: 16759)
Weak sell


Hong Kong - Hang Seng is in a falling trend channel in the medium long term. This signals increasing pessimism among investors and indicates further decline for Hong Kong - Hang Seng. 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

The report consists of daily evaluations by Investtech´s automated analysis system. The selection is mainly based on new medium term technical signals from the last closing price.

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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.


    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.

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