Global stocks: Four interesting stocks listed on global exchanges

Published August 15, 2018

We have analysed four international stocks, two US listed, one Swedish and one Indian stock to mark India's Independence Day today. These companies are leaders in their own fields and very popular worldwide. The analysis is based on closing prices as per August 14, 2018.

Google Inc (GOOG.NA) Close: 1242.10

Google Inc, which is listed on NASDAQ in the US, shows strong development within a rising trend channel in the medium term. It indicates increasing optimism among investors and suggests continued rise. Since the breakout from the rectangle formation in late May, the stock has gone up reasonably and is just under the resistance level around 1268 dollars. Any close above this level will give new buy signal. There is support between 1216 and 1173 dollars. Positive volume indicates a surplus of buyers over sellers when the stock price rises and supports the rising trend.
Investtech's recommendation: Buy

Reliance Industries Li (RELIANCE.NS) Close: 1210.60 

Reliance Industries Limited is the largest company by market capitalization listed on the Indian stock exchanges. The stock is inside a rising trend channel since March 2017 in all time horizons, that is, short, medium and long term. Rising trend indicates that the company experiences positive development and that buying interest among investors is increasing. Hence further price increase for Reliance Industries is suggested. Positive volume balance indicates that volume is high on days with rising prices and low on days with falling prices. RSI above 70 indicates strong and positive momentum. These indicators strengthen the stock price. The stock is very close to its all-time-high, hence upside potential is big. However, in case of a price correction there is support around 1033 rupees.
Investtech's recommendation: Buy

Electrolux B (ELUXB.ST) Close: 205.80 

After topping out around 300 Swedish kroner (SEK) in October 2017, the Swedish giant Electrolux B's share prices tumbled over 36 percent to 192 kroner. The stock has recovered from the lows and now is out of the falling trend channel and trading more sideways. This recovery has been supported by good buying interest in the stock, as indicated by the positive volume balance indicator, where investors must have done some bottom fishing. There is short-term resistance around 210 kroner. A close above this level may trigger new buying interest and the stock may rise up to 254 kroner or more. There is limited downside risk as the support is around 192 kroner, hence the risk-reward ratio is favorable. The stock is maximum positive on insider trading.
Investtech's recommendation: Weak Buy

Alibaba Group Holding (BABA.NY)  Close: 172.53

The Aibaba Group Holding share has broken the bottom of a weak rising trend channel in the medium term. This indicates, in the first place, a weaker rising trend or development of a more sideways trend. Negative volume balance and decreasing momentum weaken the underlying stock. Shares of this NYSE listed company is trading just above its support level around 170 dollars. A fall below that level may trigger fresh selling in the stock. In case of any reaction on the upside, there is now resistance around 187 dollars.
Investtech's recommendation: Watch

The analyses are based on closing price of August 14, 2018.